2020-195-Resolution No. 2020-031 Recorded 6/30/2020Recorded in Deschutes County G J2020_195
REVIEWED
:,
LEGAL COUNSEL
Nancy Blankenship, County Clerk
Commissioners' Journal 06/30/2020 10:2.6:06 AM
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2020-195
For
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution to Approve a Supplemental
Budget Within the 2019-20 Deschutes County * RESOLUTION NO. 2020-031
Budget and Directing Entries
WHEREAS, due to an occurrence that could have not been foreseen at the time of the preparation
of the 2019-20 budget, the creation and funding of a new side account with the Oregon Public Employees
Retirement Fund (OPERF) was not considered in the 2019-20 Adopted Budget, and
WHEREAS, ORS 294.471 allows a supplemental budget adjustment when authorized by
resolution of the governing body, and
WHEREAS, the Board of County Commissioners approved funding a new side account with
OPERF in the amount of $13,000,000 on December 23, 2019, and
WHEREAS, it is necessary to create a new Special Payments line item budget category and
appropriate $13,000,000 in Special Payments from Reserves in the PERS Reserve Fund; 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 made:
Reserves
Special Payments
($13,000,000)
$13,000,000
Section 2. That the Chief Financial Officer make the appropriate entries in the Deschutes
County Financial System to show the above appropriations.
DATED this Ll th day of June, 2020.
ATTEST:
Recording S eretary
BOARD OF COUNTY COMMISSIONERS OF
DE UTES COUNTY, OREGON
f1`
PATTI ADAIR, Chair
ANTHO , D BO V'ce-Chair
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PHILIP G. HENDERSON, Commissioner
PAGE 1 OF I -RESOLUTION NO.2020-031
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o "mac Deschutes County Board of Commissioners
1300 NW Wall St, Bend, OR 97703
(541) 388-6570 - Fax (541) 385-3202 - https://www.deschutes.org/
AGENDA REQUEST & STAFF REPORT
For Board of Commissioners BOCC Wednesday Meeting of June 24, 2020
DATE: June 16, 2020
FROM: Greg Munn, Finance, 541-388-6559
TITLE OF AGENDA ITEM:
PUBLIC HEARING and Consideration of Board Signature of Resolution No. 2020-031 to
Approve a Supplemental Budget Adjustment in the 2019-20 Deschutes County Budget and
PERS Reserve Fund.
RECOMMENDATION & ACTION REQUESTED:
Staff recommends approval of Resolution No. 2020-031 increasing Appropriations in the
PERS Reserve Fund.
BACKGROUND AND POLICY IMPLICATIONS:
On December 23, 2019, the Board of County Commissioners approved a $13,000,000 transfer
to fund a new side account with the Oregon Public Employees Retirement Fund and secure a
25% match share from the state. This resolution requests to increase appropriations in the
2019-20 budget to provide legal budget authority to complete the transaction and establish the
fund.
FISCAL IMPLICATIONS:
This resolution authorizes an increase to the 2019-20 budget appropriation in the PERS
Reserve Fund by $13,000,000. This increase is funded by available reserve funds.
ATTENDANCE:
Greg Munn, Acting Treasurer and Chief Financial Officer.