ORDINANCE No. 177083

*Adjust FY 2002-03 Budget for Fall Budget Adjustments (Ordinance)

The City of Portland Ordains:

Section  1.  The Council finds:

 1.  On November 5, 2002, the City Council received a memorandum summarizing recommended adjustments to be included within the Fall Budget Adjustment Ordinance for FY 2002-03.

 2.  The memorandum identified programs, projects or activities that required appropriation adjustments or transfers of appropriation within bureau budgets. Also included were specific actions necessary to adjust various funds in order to maintain the accuracy of the FY 2002-03 Budget.

 3.  The Bureau of Financial Services has prepared Exhibit 1 to this ordinance that makes the transfers in various funds outlined in the November 5, 2002 memorandum to the City Council.

 4.  Certain budget adjustments must be made in the form of a Minor Supplemental Budget in accordance with Local Budget Law, Oregon Revised Statutes 294.480. Exhibit 2 details the Minor Supplemental Budget actions.

NOW THEREFORE, the Council directs:

a.  The FY 2002-03 Budget is hereby amended by adjusting certain resources and requirements in various funds as detailed in Exhibit 1.

b.  The FY 2002-2003 Budget is hereby amended by decreasing certain resources and requirements within the General Fund as detailed in Exhibit 2.

Section 2. The Council declares that an emergency exists in order that there be no delay

in implementing the budget adjustments; therefore, this Ordinance shall be in force and

effect from and after its passage by the Council.

Passed by the Council, NOV 14 2002        GARY BLACKMER

 Auditor of the City of Portland

Mayor Vera Katz

Office of Finance and Administration        By /S/ Susan Parsons

Bureau of Financial Services

TG:MM:LN             Deputy

November 13, 2002

BACKING SHEET INFORMATION

AGENDA NO. 1404-2002

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 177083