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<br />A summary of the Budget Committee changes to the FY14 URA Proposed Budget is provided in <br />Attachment A. <br /> <br />Timing <br />Under the Oregon Local Budget Law, the FY14 URA budget must be adopted by June 30, 2013, and <br />a copy of the adopting resolution must be filed with the Lane County Assessor by July 15, 2013. <br /> <br />Other Background Information <br />The FY14 Proposed Budget document, Budget Committee meeting materials, and Budget <br />Committee FY14 budget motions are available on the City’s website at www.eugene- <br />or.gov/budget. <br /> <br /> <br />RELATED CITY POLICIES <br />The FY14 URA budget was prepared following guidelines established in the Financial Management <br />Goals and Policies. <br /> <br /> <br />URA BOARD OF DIRECTORS OPTIONS <br />After the public hearing on the FY14 budget as approved by the Budget Committee has been held, <br />the URA Board of Directors may make changes to the FY14 budget. <br /> <br />The board may reduce budgeted appropriations in any fund by any amount, as long as resources <br />and requirements remain in balance. No additional process steps are required when <br />appropriations are reduced by the URA Board of Directors. <br /> <br />Budgeted appropriations may also be increased by the board. If the total appropriation increase <br />in any of the reporting funds is less than $5,000 or 10 percent of the fund’s appropriations as <br />approved by the Budget Committee, whichever is greater, then no additional process steps are <br />required. However, if the appropriations in any fund are increased by more than those limits, the <br />URA Board of Directors must publish a revised budget notice and hold another public hearing <br />before the adjusted budget can be adopted. Due to the timing requirements associated with the <br />budget notice publication, the last option would effectively preclude the adoption of the FY14 <br />budget by June 30, 2013, which would constitute a violation of the Oregon Local Budget Law. <br /> <br />If members of the URA Board of Directors wish to amend the FY14 budget resolution, the motion <br />must contain specific appropriation line(s) being altered in the resolution, and each motion must <br />be self-balancing, meaning that a resource and a requirement must exactly offset each other. <br /> <br /> <br />URA DIRECTOR’S RECOMMENDATION <br />The Agency Director recommends adoption of the FY14 URA budget as approved by the Budget <br />Committee. <br /> <br /> <br /> <br />S:\CMO\2013 Council Agendas\M130624\S1306245.doc <br /> <br />