HomeMy WebLinkAboutRes 070 - Transfer Appropr - LID BOTC 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 June 24, 2009
Please see directions for completing this document on the next page.
DATE: June 5, 2009
FROM: Marty Wynne Finance Phone # (541) 388 -6559
TITLE OF AGENDA ITEM:
Consideration and signature of Resolution #2009 -070, transfer of appropriation in the Deschutes
County LID 2003 (BOTC) Fund.
PUBLIC HEARING ON THIS DATE? NO
BACKGROUND AND POLICY IMPLICATIONS:
Consideration of Resolution #2009 -070, transfer of appropriation in the Deschutes County LID 20( 3
(BOTC) Fund. Additional payments made by property owners allowed for additional debt service
payments to be made on the Local Improvement District 2003 (BOTC) loan. Additional appropriation
is required in the Debt Service category for this fund.
FISCAL IMPLICATIONS:
A transfer of appropriation from Contingency to Debt Service for $22,460 is necessary.
RECOMMENDATION & ACTION REQUESTED:
Approval and signature of Resolution #2009 -070.
ATTENDANCE: Marty Wynne
DISTRIBUTION OF DOCUMENTS:
Marty Wynne, Finance Department 388 -6559
REVIEWED
LEGAL COUNSEL
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 -070
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: 522 - 5000 - 501.97 -01 Deschutes County LID 2003 (BOTC),
Contingency
TO: 522 -5000- 471.80 -31 Deschutes County LID 2003 (BOTC),
Debt Service, Principal
TO: 522 -5000- 472.80 -32 Deschutes County LID 2003 (BOTC),
Debt Service, Interest
$ 22,460
$ 21,140
$ 1,320
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 June, 2009.
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
TAMMY BANEY, Chair
ATTEST: DENNIS R. LUKE, Vice -Chair
Recording Secretary ALAN UNGER, Commissioner
PAGE 1 OF 1- RESOLUTION NO. 2009-070 (06/24/09)
Lacy Nichols
From: Jeanine Faria
Sent: Thursday, June 04, 2009 4:33 PM
To: Marty Wynne
Cc: Lacy Nichols
Subject: Appropriation Transfer - Fund 522
Attachments:
Fund 522 Appropriation Transfer.xls
Fund 522
)propriation Transfe
Attached is a worksheet for an appropriation transfer for Fund 522 - FF &C
Series 2003. This is an LID loan with Bank of the Cascades. Assessment payments from
the property owners must be used to pay down the debt semiannually. These payments
exceeded the amount estimated in the FY 2009 original budget. Additional Debt Service
appropriation is required.
Please prepare a resolution approving the appropriation transfer.
Jeanine
1
Deschutes County
Appropriation Transfer Request
•
A transfer of appropriation is required for the following reason and will be used for the following purpose:
Additional payments from property owners allowed for additional debt service payments to be made on the Local Improvement
District Loan.
Fund:
Dept:
Requested by:
Date:
LID 2003 (BOTC)
Road Dept (Finance)
Marty Wynne
6/4/2009
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
522 - 5000 - 501.97 -01
Contingency
Contingency
233,625
(22,460)
211,165
2
522 - 5000 - 471.80 -31
Debt Service
Principal
63,524
21,140
84,664
3
522 - 5000 - 472.80 -32
Debt Service
Interest
1,500
1,320
2,820
TOTAL 298,649 - 298,649
•
A transfer of appropriation is required for the following reason and will be used for the following purpose:
Additional payments from property owners allowed for additional debt service payments to be made on the Local Improvement
District Loan.
Fund:
Dept:
Requested by:
Date:
LID 2003 (BOTC)
Road Dept (Finance)
Marty Wynne
6/4/2009