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<br />M I NUT E S <br /> <br />- <br /> <br />Eugene City Council Work Session <br />McNutt Room--City Hall <br /> <br />April 11, 1984 <br />5:55 p.m. <br /> <br />COUNCILORS PRESENT: Cynthia Wooten, John Ball (from 6:18), Richard Hansen, <br />Freeman Holmer, Joyce Nichols (until 7:14), Emily Schue, <br />Betty Smith (until 8:00), Mayor Gus Keller. <br /> <br />COUNCILORS ABSENT: Brian Obie <br /> <br />Revenue Worksession of the Eugene City Council of the City of Eugene, Oregon, <br />was called to order by His Honor Mayor Gus Keller. <br /> <br />I. INTRODUCTION <br /> <br />e <br /> <br />City Manager Micheal Gleason introduced the topic and reviewed the meeting <br />agenda. He stated that the goal of staff was to review the forecasts and the <br />assumptions, adding that the final budget would result from the best guess of <br />the council and staff. He explained that the forecasts were based on the <br />budget previously presented to the City Council. Any suggestions on specific <br />figures from the council will be recalculated into the forecast and presented <br />to the council at a later date. Mr. Gleason said he hoped that the council <br />will accept the six-year forecasting methodology for the future. He stated <br />that he would address service restorations after the council agreed on the <br />assumptions. <br /> <br />II. FINANCIAL FORECAST AND ASSUMPTIONS <br /> <br />Finance Director Warren Wong, referring to a financial revenue chart, stated <br />that staff had incorporated the revised restoration schedule after reviewing <br />the original schedule developed by the Financial Planning Committee in January <br />1983. Having reviewed the restoration schedule, he stated that the restora- <br />tion amount was reduced to $2.7 million from the $2.9 million of the previous <br />year and $.5 million from the current year. Factoring the new restoration <br />amount into the forecast, he said an equal restoration of $900,000 was assumed <br />for each year beginning in FY86. The forecast will project a deficit ranging <br />from $2.1 to $3.2 million between FY86 and FY90. Mr. Wong stated that <br />he will review the 19 key revenue and expenditure assumptions which drive <br />approximately 95 percent of the forecast. He stated that he will explain the <br />staff methodology and assumptions and the council can then incorporate its own <br />drivers into the forecast. In response to a question, Mr. Wong stated that <br />the difference in not restoring services would be approximately $1 million in <br />FY86, $800,000 in FY87, and approximately $0 in FY88, assuming the 5 percent <br />cost of living increase and the six percent property tax increase. Mr. Gleason <br />added that this also assumed no increased capital or employment and 40 percent <br /> <br />- <br /> <br />MINUTES--Eugene City Council <br /> <br />April 11, 1984 <br /> <br />Page 1 <br />