HomeMy WebLinkAboutRes 004 - Transfer Appropr - General 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 January 28, 2015
Please see directions/or completing this document on the next page.
DATE: January 13,2015
FROM: Wayne Lowry \~,1 Finance (541 )388-6559
TITLE OF AGENDA ITEM:
Consideration and signature of Resolution #2015-004 transfer of appropriation in Deschutes County's
General Fund.
PUBLIC HEARING ON THIS DATE? NO
BACKGROUND AND POLICY IMPLICATIONS:
Consideration of Resolution #2015-004. Sufficient resources are available in Deschutes County's
General Fund to pay off the inter-fund loan made from the Solid Waste Closure Reserve Fund to
Deschutes County's Jail Project Capital Project Fund. These resources will be transferred from the
General Fund to the Capital Project Fund. As the retirement of the loan was not foreseeable at the time
the FY 2015 budget was adopted, it will be necessary to increase the appropriation in the Transfer Out
category of the General Fund
FISCAL IMPLICATIONS:
A transfer of appropriation from Contingency to Transfers Out in General FundlNon-Departmental for
$1,040,000 is necessary.
RECOMMENDATION & ACTION REQUESTED:
Approval and signature of Resolution #2015-004.
ATTENDANCE: Wayne Lowry
DISTRIBUTION OF DOCUMENTS:
Wayne Lowry, 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 2014-2015 RESOLUTION NO. 2015-004
*
Deschutes County Budget and Directing Entries *
WHEREAS, attached is an e-mail 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: 001-4500-501.97-01 Deschutes County General Fund, Non-Departmental,
Contingency $ 1,040,000
TO: 001-4500-491.96-85 Deschutes County General Fund, Non-Departmental,
Transfers Out, Jail Project Fund (456) $ 1,040,000
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 January, 2015.
BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
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ANTHONY DEBONE, Chair
ATTEST: ALAN UNGER, Vice-Chair
Recording Secretary TAMMY BANEY, Commissioner
PAGE I OF I-RESOLUTION NO. 2015-004 (01128/15)
Lacy Nichols
From: Wayne Lowry
Sent: Wednesday, January 14, 20154:20 PM
To: Lacy Nichols; Jeanine Faria
Subject: Solid Waste loan repayment budget adjustment
Attachments: Appropriation Transfer Fund 001 (Jail-SW Loan) .xlsx
The Board was okay with moving ahead with the adjustment to the budget to allow the final payment on the solid waste
loan in 2015 from the general fund. Please process this budget adjustment along with the others. I have attached the
worksheet with the updated narrative explanation.
Thanks
Wayne Lowry, CPA I Finance Director/Treasurer Deschutes County
1300 NW Wall 5t., 5te. 200 I Bend, Oregon 97701-1906
Office: (541) 388-6559 Cell: (541) 788-0093 Wayne.Lowry@deschutes.org
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1
Deschutes County
Appropriation Transfer Request
Line Number
Item (HTE 14 digit code)
1 001-4500-501 .97-01
2 001-4500-491.96-85
TOTAL
Category
(Pers, M&S, Cap Out, Contingency)
Continency
Transfer Out
Description
(Element-Object, e.g.
Time Mgmt, Temp Help,
Computer Hardware)
Contingency
Jail Project Fund
Current
Budgeted
Amount
7,282,394
1,165,000
8,447,394
To (From)
(1,040,000)
1,040,000
-
I
Revised
Budget
I
I
6,242,394 •
2,205,000.
!
8,447,394 I
i
A transfer of appropriation is required for the following reason and will be used for the following purpose:
The Board was supportive of a plan in September 2013 to repay the solid waste loan used to cover certain expenses of
the original jail expansion project over a three year period. The first two annual payments have been made leaving a balance of $1,040,000.
The general fund beginning balance for 2015 was $688,000 greater than anticipated. In addition, property tax revenues for 2015 in the
general fund are expected to be $400,000 greater than anticipated. This budget adjustment proposes to use these unexpected resources
in the general fund to make the final payment on the solid waste loan before the end of the 2015 fiscal year. This action will also allow the
the County to close the Jail Capital Project Fund (Fund 456) at the end of 2015 as the project was completed in 2015,
Resources in the General Fund have been designated for the repayment of this loan. The budget adjustment above makes the necessary
appropriations to complete the loan repayment.
Fund:
Dept:
Requested by:
Date:
General Fund I Economic Development
Non-Dept I BOCC
Wayne Lowry
January 15, 2015