HomeMy WebLinkAboutRes 2009-034 - Transfer Appropriation- Project Development and Full Faith & Credit 2008 FundDeschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701 -1960
(541) 388 -6570 - Fax (541) 385 -3202 - www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of April 8, 2009
Please see directions for completing this document on the next page.
DATE: March 23, 2009
FROM: Marty Wynne Finance Phone # (541) 388 -6559
TITLE OF AGENDA ITEM:
Consideration and signature of Resolution #2009 -034, transfer of appropriation in the Deschutes
County Project Development and Full Faith & Credit 2008 Funds.
PUBLIC HEARING ON THIS DATE? NO
BACKGROUND AND POLICY IMPLICATIONS:
Consideration of Resolution #2009 -034, transfer of appropriation in the Deschutes County Project
Development and Full Faith & Credit 2008 Funds. The debt service required on the FF &C 2008A
borrowing attributable to the OSP portion of the Capital Project will be provided by the Project &
Development and Debt Service (Fund 140) during the construction period. The actual debt service
required for the FF &C 2008A borrowing was not determinable at the time of the FY 2009 budget
adoption. Additional appropriation is required in the Debt Service category for this fund.
FISCAL IMPLICATIONS:
The Full Faith & Credit 2008A borrowing of $9,635,000 requires a debt service payment in FY 2009 of
$217,673.
RECOMMENDATION & ACTION REQUESTED:
Approval and signature of Resolution #2009 -034.
ATTENDANCE: Marty Wynne
DISTRIBUTION OF DOCUMENTS:
Marty Wynne, Finance Department 388 -6559
For Recording Stamp Only
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Transferring Appropriations
Within the Various Funds of the 2008 -2009 * RESOLUTION NO. 2009 -034
Deschutes County Budget and Directing Entries *
WHEREAS, attached is a request from the Finance Director requesting a transfer of
appropriations, and
WHEREAS it is necessary to transfer appropriations within the Deschutes County Budget to
accommodate the request; now therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. That the following transfers of appropriations be made:
FROM: 140- 0800 - 501.97 -01 Deschutes County Project Development &
Debt Reserve, Contingency $ 110,650
TO: 140- 0800 - 491.96 -78 Deschutes County Projoct Development &,
Debt Reserve, FF & C 2008 A $ 110,650
FROM: 538- 1400 - 471.81 -01 Deschutes County Full Faith & Credit, 2008,
Debt Service, Principal $ 50,000
FROM: 538- 1400 - 501.97 -01 Deschutes County Full Faith & Credit, 2008,
Contingency $ 17,673
TO: 538- 1400 - 472.81 -02 Deschutes County Full Faith & Credit, 2008,
Debt Service, Interest $ 67,673
PAGE 1 OF 2- RESOLUTION NO. 2009-034 (04/08/09)
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 April, 2009.
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
TAMMY BANEY, Chair
ATTEST: DENNIS R. LUKE, Vice -Chair
Recording Secretary ALAN UNGER, Commissioner
PAGE 2 OF 2- REsOLUTioN NO. 2009-034 (04/08/09)
Deschutes County
Appropriation Transfer Request
A transfer of appropriation is required for the following reason and will be used for the following purpose:
The debt service required on the FF &C 2008A borrowing attributable to the OSP portion of the Capital Project will be provided by
The Project Development and Debt Reserve (Fund 140) during the construction period.
Fund:
Dept:
Requested by:
Date:
Proj Dev & Debt Reserve
BOCC
Marty Wynne
3/19/2009
Line Number
Category
Description
Item
(HTE 14 digit code)
Project
Code
(Pers, M &S, Cap Out,
Contingency)
(Element- Object, e.g. Time Mgmt,
Temp Help, Computer Hardware)
Current
Budgeted
Amount
To (From)
Revised
Budget
1
140 - 0800 - 491.96 -78
Transfers Out
FF &C 2008A (538)
-
110,650
110,650
2
140 - 0800 - 501 -97 -01
Contingency
Contingency
3,590,645
(110,650)
3,479,995
TOTAL 3,590,645 - 3,590,645
A transfer of appropriation is required for the following reason and will be used for the following purpose:
The debt service required on the FF &C 2008A borrowing attributable to the OSP portion of the Capital Project will be provided by
The Project Development and Debt Reserve (Fund 140) during the construction period.
Fund:
Dept:
Requested by:
Date:
Proj Dev & Debt Reserve
BOCC
Marty Wynne
3/19/2009
Deschutes County
Appropriation Transfer Request
A transfer of appropriation is required for the following reason and will be used for the following purpose:
The actual debt service required for the FF &C 2008A borrowing was not determinable at the time the budget was adopted. Additional
appropriation is required in the Debt Service category for this fund.
Fund:
Dept:
Requested by:
Date:
FF &C 2008 A
Finance
Marty Wynne
3/19/2009
Line Number
Category
Description
Item
(HTE 14 digit code)
Project
Code
(Pers, M &S, Cap Out,
Contingency)
(Element- Object, e.g. Time Mgmt,
Temp Help, Computer Hardware)
Current
Budgeted
Amount
To (From)
Revised
Budget
1
538 - 1400 - 471.81 -01
Debt Service
Principal
100,000
(50,000)
50,000
2
538 - 1400 - 472.81 -02
Debt Service
Interest
100,000
67,673
167,673
3
538 - 1400 - 501.97 -01
Contingency
Contingency
206,431
(17,673)
188,758
TOTAL 406,431
-
406,431
A transfer of appropriation is required for the following reason and will be used for the following purpose:
The actual debt service required for the FF &C 2008A borrowing was not determinable at the time the budget was adopted. Additional
appropriation is required in the Debt Service category for this fund.
Fund:
Dept:
Requested by:
Date:
FF &C 2008 A
Finance
Marty Wynne
3/19/2009
