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<br /> <br />ECC <br />UGENE ITY OUNCIL <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br /> <br />Public Hearing and Action: Resolution 4934 Adopting a Supplemental Budget; Making <br />Appropriations for the City of Eugene for the Fiscal Year Beginning July 1, 2007 and <br />Ending June 30, 2008 <br /> <br /> <br />Meeting Date: March 10, 2008 Agenda Item Number: 3 <br />Department: Central Services Staff Contact: Kitty Murdoch <br />www.eugene-or.gov Contact Telephone Number: 682-5860 <br /> <br /> <br /> <br /> <br />ISSUE STATEMENT <br /> <br />City Council approval of the second Supplemental Budget for FY08 is requested. Oregon Local Budget <br />Law (ORS 294.480) allows for supplemental budgets for "an occurrence...which had not been <br />ascertained at the time of the preparation of a budget for the current year..." Supplemental Budget #2 <br />consists of $8.0 million in proposed changes to the FY08 Budget. A brief description of the proposed <br />transactions is provided in Attachment A. This supplemental budget does not authorize any increased <br />property tax levy. <br /> <br /> <br />BACKGROUND <br /> <br />Supplemental budgets recognize new revenue and authorize other unanticipated changes in legal <br />appropriations during a fiscal year. <br /> <br />In the General Fund, the following changes are requested: <br /> <br /> <br />1)Library, Recreation and Cultural Services: Recognition and appropriation of $138,000 for a <br />donation from Nike to promote Olympic Trials activities aimed at youth in the community; <br /> <br /> <br />2)Planning and Development: a) Recognition of $65,000 in expected annexation fee revenue and <br />appropriation of the revenue for staffing support to process annexation applications; b) <br />appropriation of $315,000 from the Reserve for Revenue Shortfall for conducting a <br />comprehensive lands assessment as approved by the City Council on January 16, 2008. <br /> <br />The Community Development Block Grant Fund is recognizing transactions, including federal grant <br />funds and loans, to purchase downtown properties according to the plan authorized by the City Council <br />on February 27, 2008. <br /> <br />The Wastewater Treatment Fund is requesting budget authority for the Public Works Department to <br />replace two severely corroded floating sludge holding tank gasholder covers. One of the covers is no <br />longer in service. Approval of this request is required now in order to initiate a contract for cover <br />replacement during the upcoming dry weather season and to mitigate the risk of losing the last cover in <br /> F:\CMO\2008 Council Agendas\M080310\S0803103.doc <br /> <br />