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<br /> <br />A detailed description of these transactions is provided in Attachment A. <br /> <br />Timing <br />In some cases, expenditure authority is needed immediately to carry out URA Board direction or to <br />meet legal or program requirements. Approval of SB1 in December allows the organization to <br />prepare more accurate mid-year projections by having the general ledger reflect the audited <br />balances in each fund. This, in turn, enables staff to more accurately project the Beginning Working <br />Capital for the next fiscal 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 />Particular requests requiring more information or discussion may be removed from the <br />Supplemental Budget and delayed for action in a future supplemental budget. In certain cases there <br />may be a financial or legal impact to delaying budget approval. The URA Board may also adopt <br />amended appropriation amounts or funding sources for specific requests in the Supplemental <br />Budget. <br /> <br /> <br />AGENCY DIRECTOR’S RECOMMENDATION <br />Approve the attached resolution adopting the Supplemental Budget. <br /> <br /> <br />SUGGESTED MOTION <br />Move to adopt a resolution adopting a Supplemental Budget; making appropriations for the Urban <br />Renewal Agency of the City of Eugene for the Fiscal Year beginning July 1, 2012 and ending June 30, <br />2013. <br /> <br /> <br />ATTACHMENTS <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 /> S:\CMO\2012 Council Agendas\M121210\S1212105.doc <br /> <br />