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 Tulsa
 Code of Ordinances
 Appendix 1989. AMENDED CHARTER
 Article II. THE COUNCIL

  § 7.9. Adjustments to allocations to the economic stabilization reserve, capital, other one-time expenditures, or the operating reserve.  

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  • Adjustments to allocations to the Economic Stabilization Reserve, Capital, Other One-Time Expenditures, or Operating Reserve may be made as follows:

    A.

    If the City made appropriations from the Economic Stabilization Reserve in the current budget year and in the immediately preceding budget year pursuant to Section 7.8, the City is not required to allocate any anticipated excess revenues as set forth in Section 7.5 for the upcoming budget year.

    B.

    If the City Treasurer projects that the Consumer Price Index for the upcoming budget year will exceed the index for the current budget year by more than five percent (5%), the trigger for as set forth in Section 7.5 above shall instead be the percentage of growth in the index plus two percent (2%). If the City Treasurer projects that the Consumer Price Index for the upcoming budget year will be less than the index for the current budget year, the trigger for withdrawals from the Economic Stabilization Reserve as set forth in Section 7.9 above shall instead be the percentage of negative growth in the index. The City Treasurer shall use for these purposes the All Items Consumer Price Index for All Urban Consumers (CPI-U), or its successor, as reported by the U.S. Department of Labor's Bureau of Labor Statistics.

    C.

    If the City Council or the voters take any action that changes the amount of total General Fund revenues in any material manner, including but not limited to reducing a tax or imposing a new fee, the revenue changes caused by that action shall not be counted as part of the trigger for allocations as set forth in Section 7.5 or for withdrawals as set forth in Section 7.8 during the year or years in which the action is first implemented.

    D.

    In conjunction with the annual year-end close of the budget, the City Treasurer shall reconcile the revenue projections triggering any budgeted allocations as set forth in Section 7.5 or withdrawals as set forth in Section 7.8 with actual revenue results, as stated in the City's independent annual audit for the budget year(s) in question, and shall, to the extent practicable, rebalance the allocations accordingly.

    See note following Section 7.10.