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<br />Timing <br />In some cases, expenditure authority is needed immediately to carry out Board direction or to meet legal <br />or program requirements. Approval of Supplemental Budget #1 in December allows the organization to <br />prepare more accurate mid-year projections by having the general ledger reflect the audited balances in <br />each fund. This, in turn, enables staff to more accurately project the Beginning Working Capital for the <br />next year’s Proposed Budget. <br /> <br /> <br />RELATED CITY POLICIES <br />These transactions conform to the City’s Financial Management Goals and Policies. <br /> <br /> <br />BOARD OPTIONS <br /> <br />Particular requests requiring more information or discussion may be removed from the Supplemental <br />Budget and delayed for action in a future supplemental budget. In certain cases there may be a financial <br />or legal impact to delaying budget approval. The URA Board may also adopt amended appropriation <br />amounts or funding sources for specific requests in the Supplemental Budget. <br /> <br /> <br />AGENCY DIRECTOR’S RECOMMENDATION <br /> <br />The Agency Director recommends adoption of the attached resolution adopting the Supplemental <br />Budget. <br /> <br /> <br />SUGGESTED MOTION <br /> <br />Move to adopt Resolution XXXX adopting a Supplemental Budget; making appropriations for the <br />Urban Renewal Agency of the City of Eugene for the Fiscal Year beginning July 1, 2011 and ending <br />June 30, 2012. <br /> <br /> <br />ATTACHMENTS <br /> <br />A. Transaction Summary <br />B. Resolution <br /> <br /> <br />FOR MORE INFORMATION <br />Staff Contact: Mia Cariaga <br />Telephone: (541) 682-5408 <br />Staff E-Mail: mia.cariaga@ci.eugene.or.us <br /> <br />OR <br /> <br />Staff Contact: Pavel Gubanikhin <br />Telephone: (541) 682-5512 <br />Staff E-Mail: pavel.e.gubanikhin@ci.eugene.or.us <br /> <br /> S:\CMO\2011 Council Agendas\M111212\S1112124.doc <br />