Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget And Finance topic
No spam. Unsubscribe anytime.
City adopts midyear budget amendments to correct accounting and cover increased costs
Summary
Council adopted a midyear budget ordinance that corrects a missed debt retirement amount, records a $3 million interfund transfer to clear accounting and funds higher repair and insurance costs.
The Josephine City Council adopted a midyear budget amendment ordinance on April 14 that adjusts several line items after staff identified accounting and expense changes.
City staff reported that the city has collected roughly 71% of expected annual revenue to date and that an earlier draft omitted a debt‑retirement expense of $543,000; the ordinance corrects that omission. Staff also said repair and maintenance expenses and property/liability insurance costs had increased, and the amendment records an accounting transfer of about $3 million from the water fund to the general fund to clear an interfund balance for audit purposes.
Council discussed the changes briefly and approved the ordinance. Staff said the amendments are intended to align budgeted appropriations with actual expenditures and to prepare for the upcoming audit.
