City approves $1 million supplemental budget
The Lake Oswego City Council adopted changes to the budget for the 2007-09 biennium at its June 3 meeting.
The adjustments were reviewed and approved by the Lake Oswego Citizens' Budget Committee at its annual budget review and update meeting on May 27.
The most significant adjustments relate to the Lake Oswego Interceptor Sewer project. The project will replace an existing interceptor that is nearly 50 years old, undersized and structurally unsound.
Final costs are anticipated in early July.
The project will be the largest public works project in the city's history. The council is committed to providing project management and oversight for the project on behalf of taxpayers and timely project information to citizens. To reflect this, the Sanitary Sewer Fund budget was adjusted by $625,000 to add five new positions dedicated to the project and funded by the project's bond financing.
The five positions are related to engineering and public outreach activities. Four of the five positions will be filled with existing city employees. These positions will be back-filled with new employees. Once the project is complete, at least three positions are anticipated to continue working in different program areas for the city, including the Joint Water Supply Project, a partnership with the city of Tigard, and public outreach projects.
This project team, as well as the project contractor team from Barnard Construction, will be located at the West End Building.
Other supplemental budget adjustments approved include:
* Acquisition, installation, and staff training related to new building department software. Funding for this software, $150,000, will come from reserves that are restricted to building operations.
* $407,000 for implementation of the coun-cil approved Water Conservation and Manage-ment Plan.
* An increase in the General fund budget rev-enue of $1 million to reflect the receipt of property tax and franchise fee collections that exceed original budget estimates.
For more information regarding the changes to the budget for the 2007-09 biennium, contact Richard Seals, finance director, at 503-675-3746.