NOTICE OF SUPPLEMENTAL BUDGET HEARING ____ 1/22/18


A public hearing on a proposed supplemental budget adjustment #1 for Multnomah County School District #3 / DBA Parkrose School District
for the current fiscal year 2017-18 will be held at 10636 NE Prescott Street, Portland, OR 97220.

The hearing will take place on January 22, 2018 at 6:30 PM.

The purpose of the hearing is to discuss the supplemental budget adjustment #1 with interested persons.
A copy of the supplemental budget document may be inspected or obtained on or after January 23, 2018 at
10636 NE Prescott Street, Portland, OR 97220, between the hours of 8:00 AM and 4:30 PM


SUMMARY OF PROPOSED BUDGET CHANGES 2017-18 - AMENDMENT #1
AMOUNTS SHOWN ARE REVISED TOTALS IN THOSE FUNDS BEING MODIFIED

LISTING OF FUND CHANGES THAT EXCEEDED 10% - 1/22/18

1. Transportation Fund Fund 281

Resources Adopted Amended Requirements Adopted Amended
Local Resources $229,604 $63,086 Support Services $225,450 $58,932
State Sources $167,000 $167,000 Transfers $166,154 $166,154
Unapprop. Fund Bal. $5,000 $5,000
Total Resources $396,604 $230,086 Total Requirements $396,604 $230,086
Net Adjustment ($166,518) Net Adjustment ($166,518)
-42%
Reason for Change:
Decline is attributed to depreciation adjustment that was not done in PY - those funds were kept in general fund in PY.


2. Retirement Fund Fund 291

Resources Adopted Amended Requirements Adopted Amended
Beginning Fund Balance $127,810 $124,171 Support Services $171,810 $196,271
Local Sources $14,000 $42,100
Other Sources $30,000 $30,000
Total Resources $171,810 $196,271 Total Requirements $171,810 $196,271
Net Adjustment $24,461 Net Adjustment $24,461
14%
Reason for Change:
Increase in Beginning Fund Balance increase in local revenue due to insurance rebates.


3. Student Body Fund Fund 299

Resources Adopted Amended Requirements Adopted Amended
Beginning Fund Balance $299,799 $290,364 Instruction Services $375,000 $940,364
Local Sources $75,201 $650,000
Total Resources $375,000 $940,364 Total Requirements $375,000 $940,364
Net Adjustment $565,364 Net Adjustment $565,364
151%
Reason for Change:
This will be the 2nd year of the new Fund structure so this adjustment will bring the revenue and expenses back to what is projected from the 2016-17 year-end audited numbers.

3. Bond Capital Fund Fund 420


Resources Adopted Amended Requirements Adopted Amended
Beginning Fund Balance $1,052,465 $1,232,501 Facilities Act & Const $1,082,465 $1,252,501
Local Sources $30,000 $20,000
Total Resources $1,082,465 $1,252,501 Total Requirements $1,082,465 $1,252,501
Net Adjustment $170,036 Net Adjustment $170,036
16%
Reason for Change:
Increase in Beginning Fund balance - due to the timing of project payments during the summer of 2017-18.