1280 Intrafund Transfer

CITY OF ELGIN, OREGON RESOLUTION 1280 (2011)

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

WHEREAS: The General Fund Vehicle Reserve Fund expenditures for this fiscal year are greater than anticipated, and;

WHEREAS: The budgeted appropriations for the General Fund Vehicle Reserve Fund are not adequate to cover the necessary expenditures, and;

WHEREAS: Accounting rules require the full value of the expenses to be appropriated. The Genera Fund Contingency can be reduced to provide adequate funds to cover the General Fund Vehicle Reserve Fund expenditures;

NOW THEREFORE BE IT RESOLVED:

That the General Fund Contingency be decrease by $43,730 from $226,334 to $182,604 and the General Fund Vehicle Reserve Fund appropriation be increased by $43,730 for the purpose of meeting the unexpected expenses.

PASSED AND ADOPTED this 14th day of June 2011.