1275 Intrafund Transfer

CITY OF ELGIN, OREGON RESOLUTION 1275 (2011)

A RESOLUTION OF THE CITY COUNCIL MAKING APPROPRIATION TRANSFERS WITHIN THE WATER FUND 

WHEREAS: The Water Fund Materials and Services expenditures for this fiscal year are greater than anticipated, and;

WHEREAS: The budgeted appropriations for Materials and Services are not adequate to cover the necessary expenditures, and;

WHEREAS: Accounting rules require the full value of the expenses to be appropriated. The Water Fund Contingency can be reduced to provide adequate funds to cover the Materials and Services expenditures;

NOW THEREFORE BE IT RESOLVED:

That the Water Fund Contingency be decrease by $6,491 from $15,820 to $9,329 and the Water Fund Materials and Services appropriation be increased by $6,491 for the purpose of meeting the unexpected expenses.

PASSED AND ADOPTED this 10th day of May 2011.