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FIN-4.04 - Fund Management (June 2006)

FIN-4.04 - Fund Management (June 2006)
Binding City Policy
BCP-FIN-4.04

 
PURPOSE
 
The Council finds:
 
1. In September 2003 Council passed Ordinance # 177852, which merged the Bureau of Information Technology and the Bureau of Communications and Networking and established the Bureau of Technology Services.

2. Since this merger, some activities of the Bureau of Technology Services have been accounted for in the Technology Services Fund, and other activities have been accounted for in the Communications Services Operating Fund.

3. It is desirable to make the accounting and budgeting structures reflect the current organizational structure. The best way to accomplish this is by closing the Communications Services Operating Fund and transferring all balance sheet accounts to the Technology Services Fund, effective June 30, 2006.
 

 
POLICY
 
NOW, THEREFORE, the Council directs:
 
a. Effective June 30, 2006, the Communications Services Operating Fund (Fund 707/ AUs 358, 360, 361, 362, and 446) will be closed and all balance sheet accounts will be transferred to the Technology Services Fund (Fund 711/ AU 550).
 
The Council declares that an emergency exists because it is necessary to close the fund and transfer accounts before the end of the fiscal year in order to properly prepare financial statements for the year ending June 30, 2006; therefore this ordinance shall be in full force and effect from and after June 30, 2006.
 

 
HISTORY
Ordinance No. 180255 passed by Council June 22, 2006 and effective June 30, 2006.

Table of Contents
FIN-4.01 - Community and School Traffic Safety Account
FIN-4.02 - Parks Local Option Levy Fund
FIN-4.03 - Fund Management (June 2005)
FIN-4.04 - Fund Management (June 2006)
FIN-4.05 - Sewer System Safety Net Fund & Sewer Revolving Loan Fund Closure
FIN-4.06 - Public Safety Fund Closure and Renaming of Federal Grants Fund
FIN-4.07 - FY 2008-09 Grants Fund Major Supplemental Budget
FIN-4.08 - FY 2008-09 Grant-Related Budget Amendments Minor Supplemental Budget
FIN-4.09 - Close the Water Growth Impact Trust Fund, the Portland Police Association Health Insurance Fund and the Parking Facilities Debt Redemption Fund, and create the Tax Increment Reimbursement Fund
FIN-4.10 - Close the Business License Surcharge Fund, and Approve Renaming the Housing and Community Development Fund to the Community Development Block Grant Fund, and Approve Creating the Headwaters Apartment Complex Fund
FIN-4.11 - Close the Campaign Finance Fund
FIN-4.12 - Approve renaming the Parks Capital Construction & Maintenance Fund, the Portland Parks Memorial Trust Fund, and the Local Improvement District Construction Fund
FIN-4.13 - Create the Arts Education and Access Fund
FIN-4.14 - Adopt Budget Ajustments and Establish Appropriation Authority for the Arts Education and Access Fund and the Private For-Hire Transportation Program Reforms
FIN-4.15 - Approve Creation of Debt Service Funds and Closure of Cable Fund and Private for Hire Transportation Safety Fund
FIN-4.16 - Authorize Creation of Community Solar Special Revenue Fund