2018-52-Resolution No. 2018-004 Recorded 2/7/2018REVIEWED
LEGAL COUNSEL
Recorded in Deschutes County
CJ2018-52
Commissioners' Journal 02/07/2018 8:31:14 AM
Nancy Blankenship, County Clerk
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For Recording Stamp Only
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY,
OREGON
A Resolution Transferring Appropriation to
Foreclosed Land Sales Fund in the Deschutes
County 2017-2018 Budget
*
*
* RESOLUTION NO. 2018-004
WHEREAS, Deschutes County is required to manage tax foreclosed properties, and
WHEREAS, in accordance with ORS 275.275 (1) (a) (c) Deschutes County is reimbursed
for all expenditures incurred while managing such properties, and
WHEREAS, actual expenditures are projected to exceed the amount appropriated for this
purpose in the Fiscal Year 2017-2018 Budget, and
WHEREAS, ORS 294.463 allows for the transfer of appropriation between funds, now,
therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON, as follows:
Section 1. That the following transfer of appropriation be approved:
General Fund Contingency
Foreclosed Land Sales Fund — Program Budget
PAGE 1 OF 2 -RESOLUTION NO. 2018-004 (02/05/18)
$ (80,000)
$ 80,000
Section 2. That the Finance Director make the appropriate entries in the Deschutes
County Budget document to show the above appropriations.
DATED this th day of February 2018.
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
ANTHONY DEBONF, Chair
ATTEST: PHILIP G. HE DERSON, Vice -Chair
Recording Secreta
y
PAGE 2 OF 2 -RESOLUTION No. 2018-004 (02/05/18)
TAM BANEY,pmmissioner
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-A Deschutes County Board of Commissioners
1300 NW WaII St, Bend, OR 97703
(541) 388-6570 — Fax (541) 385-3202 — https://www.deschutes.org/
AGENDA REQUEST & STAFF REPORT
For Board of Commissioners Business Meeting of February 5, 2018
DATE: January 31, 2018
FROM: Wayne Lowry, Finance, 541-388-6559
TITLE OF AGENDA ITEM:
Consideration of Signature of Resolution No. 2018-004, Budget Adjustment - Forclosure Fund
#140
RECOMMENDATION & ACTION REQUESTED:
Approval of Resolution 2018-004 creating additional appropriations in the Foreclosure Fund
#140
CONTRACTOR: N/A
AGREEMENT TIMEFRAME: N/A
INSURANCE:
N/A
BACKGROUND AND POLICY IMPLICATIONS:
The Foreclosure fund is used to record costs to maintain and prepare foreclosed property for
sale. The sale normally takes place in late May each year and any costs recorded in this fund
are reimbursed from the sale proceeds. Staff budgets for this fund based on past experience.
Several properties this year require larger expenses than expected so additional budget
appropriations are required. Appropriations, not cash, will be transferred from general fund
contingency to provide the budget authority to meet these obligations.
FISCAL IMPLICATIONS:This action reduces general fund contingency by $80,000 and
increases the appropriation in fund 140 by the same amount. No general fund resources are
affected by this budget action, only the authority to spend. Sale proceeds will be used to fund
the expenses once the sale takes place before the end of the fiscal year.
ATTENDANCE: Wayne Lowry, James Lewis