HomeMy WebLinkAboutSEDA Resolution 2020-02 06/22/2020
SPRINGFIELD ECONOMIC DEVELOPMENT AGENCY
RESOLUTION NO. ___________
SUPPLEMENTAL BUDGET 1
A RESOLUTION ADJUSTING RESOURCES AND REQUIREMENTS IN THE FOLLOWING
FUNDS: SEDA GLENWOOD GENERAL FUND, AND SEDA DOWNTOWN GENERAL FUNDS
WHEREAS, the Springfield Economic Development Agency Board of Directors has adopted the budget
and made appropriations for Fiscal Year 2019-2020 through Resolution No. 2019-01 adopted June 10,
2019;
WHEREAS, ORS 294.471(1) and (2) permit a supplemental budget due to an occurrence or condition
that was not known at the time the budget was prepared that requires a change in financial planning;
WHEREAS, the Springfield Economic Development Agency Board of Directors is requested to make
adjustments to the Fiscal Year 2019-2020 budget as described in Exhibit A, which is attached and
incorporated by reference;
WHEREAS, this supplemental budget is being presented for consideration at a regular meeting of the
Springfield Economic Development Agency Board of Directors; and
WHEREAS, notice of a supplemental budget, including information regarding such revenues and
expenditures was published in a newspaper of general circulation not less than 5 days prior to the
public meeting,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SPRINGFIELD
ECONOMIC DEVELOPMENT AGENCY, An Urban Renewal Agency of the State of Oregon, as follows:
: The Fiscal Year 2019-2020 budget and appropriations, as adopted by Resolution
Section 1
No. 2019-01, are hereby adjusted as provided in Exhibit A.
Section 2: This Resolution will take effect upon adoption by the Board of Directors.
ADOPTED by the Board of Directors of the Springfield Economic Development Agency this ___
day of _________, ____, by a vote of _____ for and ____ against.
_______________________
Marilee Woodrow, Chair
Springfield Economic Development Agency
Board of Directors
ATTEST:
__________________________
6/22/2020
Exhibit A, Page 1 of 1
FY 2019-2020
SUPPLEMENTAL BUDGET No. 1
229 - SEDA Glenwood General Fund
Resources*Requirements
FY20 Adopted Budget$1,544,439FY20 Adopted Budget$1,544,439
Resource Adjustments: Expenditure Adjustments:
Beginning Cash Adjustment
331,716Non-Departmental Expenses:
Reserves*331,716
Total Non-Departmental Expense331,716
331,716Total Requirements Adjustments331,716
Total Resources Adjustments
Revised Budget $1,876,155Revised Budget $1,876,155
230 - SEDA Downtown General Fund
Resources*Requirements
FY20 Adopted Budget$1,499,964FY20 Adopted Budget$1,499,964
Resource Adjustments: Expenditure Adjustments:
Beginning Cash Adjustment
150,450Non-Departmental Expenses:
Reserves*150,450
Total Non-Departmental Expense150,450
Total Resources Adjustments150,450Total Requirements Adjustments150,450
Revised Budget $1,650,414Revised Budget $1,650,414
*Reserves, Unappropriated Ending Fund Balance and Resources are not appropriated for spending and are shown for
informational purposes only.
Resolution No. SEDA2020-02