RESOLUTION NO. 2016-URA-01

A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET FOR FISCAL YEAR 2015-16 FOR WATERFRONT URBAN RENEWAL DISTRICT REQUIRED SUPPLEMENTAL DEBT PAYMENT

 
WHEREAS, ORS 294.471(1)(a) allows the governing body of a municipal corporation to make one or more supplemental budgets if an occurrence or condition that is not ascertained when preparing the original budget or a previous supplemental budget for the current year or current budget period requires a change in financial planning; and
WHEREAS, if amended estimated expenditures differ by more than 10 percent from the expenditures in the budget as most recently amended prior to the supplemental budget, ORS 294.473(1)(c) states that, after a public hearing, additional expenditures contained in the supplemental budget may not be made unless the governing body of the municipal corporation enacts appropriation ordinances or resolutions authorizing the expenditures; and

WHEREAS, the Hood River Urban Renewal Agency wishes to appropriate funds for required supplemental debt payments for which amount was unknown.

NOW, THEREFORE, BE IT RESOLVED, after completion of a public hearing, by and through the Urban Renewal Agency Board meeting in regular session, Hood River Urban Renewal Agency Board hereby adopts the following supplemental budget, makes appropriations, and adjusts the fiscal year 2015-16 adopted budget as follows:

WATERFRONT DISTRICT

Budget Category Adopted
Budget Increase / (Decrease) Revised Budget
Beginning Fund Balance $     7,505    $      59,443     $    66,948     
Transfer In – from Development Program 80,000 59,443 139,443
   Total – Resources  118,886 
   
Inter-Agency Transfers Out* 84,240 59,443  143,683
Debt Service* 248,553 59,443 307,996
     Total – Expenditures    118,886 
   
Net Budget Adjustment  $        - 0 - 
   
* Appropriation Level
 
Approved by the Urban Renewal Agency of the City of Hood River on this 11th day of January, 2016, to take effect immediately.


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       Paul Blackburn, Vice Chair


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Steve Wheeler, Urban Renewal Administrator