HomeMy WebLinkAbout2007 05_OPWA_Adopt Annual Operating Budget_2007.06.19OWASSO PUBLIC WORKS AUTHORITY
OPWA RESOLUTION NO.2007-OS
A RESOLUTION PROVIDING FOR THE ADOPTION OF AN ANNUAL
OPERATING BUDGET FOR THE OWASSO PUBLIC WORKS
AUTHORITY; CLASSIFYING REVENUES FOR EACH FUND;
ESTABLISHING LEVELS OF EXPENDITURES BY CLASSIFICATION
AS PROVIDED BY STATUTE; AND ESTABLISHING AN EFFECTIVE
DATE.
WHEREAS: It is the intent of the Owasso Public Works Authority to adopt an
operating budget for fiscal year 2007-2008; and
WHEREAS: The adoption of such budget is vital to the continuation of services to the
citizens of Owasso; and
WHEREAS: Public access to the adopted budget is desired; and
WHEREAS: Certain publication and filing requirements are mandated by State
Statutes.
NOW THEREFORE, BE IT RESOLVED BY THE TRUSTEES OF THE OWASSO
PUBLIC WORKS AUTHORITY:
THAT: The revenues, expenditures and transfers as shown shall be appropriated:
Revenue and Fund Transfers In $25,445,258
Personal Services Expenditures $2,079,983
Material & Supplies Expenditures $2,930,515
Other Services & Charges Expenditures $1,067,865
Capital Outlay Expenditures $677,125
Debt Service Expenditures $7,506,240
Fund Transfer Expenditures $11,700,000
THAT: The effective date of this Resolution shall be July 1, 2007.
APPROVED AND ADOPTED this 19t~' day of June, 2007 by the Trustees of the
Owasso Public Works Authority.
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ATTEST: ~ a s SE s ~
Stephen C taudella, Chairperson
Sherry
APPROVED AS TO FORM:
Julie ombardi,-~y Attorney
Authority
MEMORANDUM
TO: THE HONORABLE CHAIR AND TRUSTEES
OWASSO PUBLIC WORKS AUTHORITY
FROM: SHERRY BISHOP
ADMINISTRATIVE SERVICES DIRECTOR
SUBJECT: RESOLUTION NO. 2007-OS
FISCAL YEAR 2007-2008 BUDGET
DATE: June 15, 2007
BACKGROUND:
Pursuant to statutory and Charter provisions, an annual operating budget for the General Fund,
OPWA Fund, OPGA Fund and other funds has been developed and transmitted for your review.
On May 24, 2007, legal notice of a public hearing was published in the Owasso Reporter, and
such hearing was conducted on June 5, 2007. The public hearing provided opportunity for
citizen comment and questions relating to the proposed budget. In addition, copies of the
proposed budget have been available for public review.
State statutes require adoption of an annual budget by resolution. OPWA Resolution No. 2007-
05 provides for the adoption of a fiscal year budget for the Owasso Public Works Authority with
total resources (fund balance, revenues and transfers in) of $25,445,258 and total appropriations
by department of $25,961,728.
RECOMMENDATION:
The staff recommends Trustee approval of Resolution No. 2007-OS adopting a fiscal year 2007-
2008 budget for the OPWA.
ATTACHMENT:
Resolution No. 2007-OS