HomeMy WebLinkAboutAgenda Item - 2026-02-17 - Number 05.4 - RES 26-07, Supplemental Budget 5.4
COUNCIL REPORT
V -w 0
GREGO\-'
Subject: Resolution 26-07, Supplemental Budget
Meeting Date: February 17, 2026 Staff Member: Shawn Cross, Finance Director
Report Date:January 29, 2026 Department: Finance
Action Required Advisory Board/Commission Recommendation
❑ Motion ❑ Approval
❑ Public Hearing ❑ Denial
❑ Ordinance ❑ None Forwarded
❑X Resolution ❑X Not Applicable
❑ Information Only Comments:
❑ Council Direction
❑X Consent Agenda
Staff Recommendation: Adopt Resolution 26-07 as submitted.
Recommended Language for Motion: Move to adopt Resolution 26-07 modifying the 2025-
27 biennial budget through a supplemental budget.
Project/ Issue Relates To: 2025-27 Biennial Budget
Issue before Council (Highlight Policy Question):
❑Council Goals/Priorities ❑Adopted Master Plan(s) ❑X Not Applicable
BACKGROUND
Throughout a budget year, new information may give reason to adjust the adopted budget.
Local Budget Law allows these adjustments under certain conditions and with certain
requirements. This request is brought forward as a supplemental budget that does not require
a public hearing.
DISCUSSION
This budget amendment is requested after a staff review of the comparison of actual biennium-
to-date revenues and expenditures with the current budget. Budgets were also evaluated to
Respect Trust.
503-635-0215 380 A AVENUE PO BOX 369 LAKE OSWEGO, OR 97034 WWW.LAKEOSWEGO.CITY
Page 2
ensure there was sufficient appropriation for transactions that will occur before the end of the
biennium (Bn).
Explanations for all of the adjustments contained in this supplemental budget are included
below.
• The City needs to add the appropriations for the Hunger Fighters grant of$250,000 and
the behavioral health case manager position in Police of$320,000. These are being
funded by a grant from Clackamas County over the current biennium.
• A portion of the Rassekh Park phase two funded by SDCs needs to be rolled over from
the previous budget cycle to the current due to the timing of the project. Just over
$200,000 of SDC funds had been budgeted for last fiscal year but were paid in the
current biennium.
• The original grant amount budgeted for the Code Audit project was low. The City is
receiving around an additional $60,000 from Metro for the project.
• Sometimes patrons donate to the Library and specify it is for the endowment. This
small modification is to increase the General Fund's transfers appropriation to include
transferring donations from the General Fund to the Library Endowment Fund.
FISCAL IMPACT
The fiscal impact is described in detail on the resolution itself.
RECOMMENDATION
Approve Resolution 26-07.
ATTACHMENTS
1. Resolution 26-07
Respect. .. .> ';,, Trust.
503-635-0215 380 A AVENUE PO BOX 369 LAKE OSWEGO, OR 97034 WWW.LAKEOSWEGO.CITY
ATTACHMENT 1
RESOLUTION 26-07
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE OSWEGO ADJUSTING THE
BUDGET FOR THE BIENNIUM COMMENCING JULY 1,2025 BY ADOPTING A SUPPLEMENTAL
BUDGET,APPROVING RESOURCES/REQUIREMENTS,AND MAKING APPROPRIATIONS.
WHEREAS,Certain conditions and situations have arisen since the initial
preparation of the 2025-27 budget and necessitate changes in financial planning, now,therefore,
BE IT RESOLVED by the City Council of the City of Lake Oswego that:
Section 1. The City Council hereby adjusts the budget for biennium 2025-27 in the amount of$631,000.
Section 2. The City Council hereby authorizes:
A) The appropriation of resources and approval of requirements listed below;
B) The transfers of funds and transfers of fund appropriations as listed herein;
General Fund Fund Adopted Revised Difference
Resources:
Intergovernmental -General $ 2,643,000 $ 2,893,000 $ 250,000
Intergovernmental - Police 814,000 1,134,000 320,000
Intergovernmental - Planning 1,049,000 1,109,000 60,000
$ 630,000
Requirements:
Police $ 42,078,441 $ 42,398,441 $ 320,000
Planning 10,304,872 10,364,872 60,000
Library 15,684,867 15,683,867 (1,000)
Non-departmental
Transfers 7,240,000 7,241,000 1,000
Materials and Services - 250,000 250,000
$ 630,000
Explanation of Major Changes:
To record the grant from Clackamas County for Hunger Fighters and Behavioral Health and additional
grant funds for the Code Audit project. Also to transfer library endowment donations to the Library
Endowment Fund.
System Development Charges Fund Adopted Revised Difference
Requirements:
System Development Charges DepartmE $ 8,500,000 $ 8,710,000 $ 210,000
Contingency 10,160,199 9,950,199 (210,000)
$ -
Explanation of Major Changes:
To record rolling over costs from the previous budget cycle for the Rassekh Park project.
Resolution#26-07 Page 1 of 3
Library Endowment Fund Adopted Revised Difference
Resources:
Transfers $ - $ 1,000 $ 1,000
Requirements:
Reserve for Future Expenditure $ 5,153,378 $ 5,154,378 $ 1,000
Explanation of Major Changes:
To record the transfer of library endowment donations to the Library Endowment Fund.
Considered and enacted at a regular meeting of the City Council held on the 17th day of February,2026.
AYES:
NOES:
ABSTAIN:
ABSENT:
Joseph M. Buck, Mayor
ATTEST:
Laura) Hawkins, City Recorder
APPROVED AS TO FORM:
Erica Tatoian, Special Counsel
Resolution#26-07 Page 2 of 3
General Fund Fund Adopted Revised Difference
Resources:
Miscellaneous Revenue- Fire $ 40,000 $ 740,000 $ 700,000
Requirements:
Parks & Recreation $ 34,971,564 $ 36,971,564 $ 2,000,000
Fire 31,069,829 31,769,829 700,000
Contingency 9,786,000 7,786,000 (2,000,000)
$ 700,000
Tennis Facility Fund Adopted Revised Difference
Resources:
Sales and Services $ 968,000 $ 1,268,000 $ 300,000
Requirements:
Tennis Facility Department $ 1,023,000 $ 1,323,000 $ 300,000
Tourism Fund Adopted Revised Difference
Requirements:
Tourism Department $ 78,000 $ 88,000 $ 10,000
Contingency 198,250 188,250 (10,000)
$