← Appropriations & Oversight Committee · 2017-04-06 · Appropriations and Oversight Committee Meeting
ORDER-2017-116 : Appropriation in the amount of $22,020.82 From Account #620000-319000 (Mt Hood Retained Earnings) to Account #620000-529000 (Mt Hood Professional Services). This appropriation is necessary to fulfill contract obligations.
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ORDER-2017-116 Appropriation Appropriation in the amount of $22,020.82 From Account #620000-319000 (Mt Hood Retained Earnings) to Account #620000-529000 (Mt Hood Professional Services). This appropriation is necessary to fulfill contract obligations. Recommend Passage Board of Aldermen
Transcript
▶ 1:08:11 Peter D. Mortimer: We have four others, also with significant amounts of cash. And the second order is 2017-116. There is an appropriation in the amount of $22,020.82 from account number 620000-319000, Mount Hood Retained Earnings, to account number 620000-529000, Mount Hood Professional Services. This appropriation is necessary to fulfill contract obligations. Mr. De La Russo, please.
▶ 1:08:51 Speaker 3: Yes, thank you. As you just indicated, it is necessary to fund the full contractual agreement that is part of the golf course. The amount of money being asked would be coming from the free cash of Mount Hood, which this past year was certified at $241,105. If this order is approved by this board, there remains $219,084.18 in free cash. That's related specifically to the Mount Hood Enterprise Fund.
▶ 1:09:31 Peter D. Mortimer: Thank you, Mr. DellaRusso. President Kahn, please.
▶ 1:09:34 Speaker 1: Yeah, just for anybody who's watching at home, this is not general fund money. This is free cash that's generated by Mount Hood that's being transferred for another purpose at Mount Hood. So this is all money that's fully funded up there and it's going to obligations of Mount Hood. General fund is not impacted at all by this transaction.
▶ 1:09:57 Peter D. Mortimer: Thank you, President Kahn. Seeing no other Alderman wishing to speak on this order. Motion to recommend. Alderman McAteer-Margolis has made a motion to recommend this order for passage. Absolutely seconded by Alderman Zwirko. All in favor of the recommendation for passage, please say aye. Aye. Any opposed, hearing none, this order will be recommended for passage at our next full board meeting.