Item B: Sequencing of Financial Measures

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Work Session: Sequencing of Financial Measures to Present to Voters Meeting Date: November 28, 2007 Agenda Item Number: B Department: Central Services Staff Contact: Jim Carlson www.eugene-or.gov Contact Telephone Number: 682-5524 ISSUE STATEMENT The purpose of the work session is to provide information for the council discussion regarding the timing and sequencing of proposed local option levies, general obligation (G.O.) bonds and other measures to be presented to the voters. Developing a tentative election schedule provides direction to staff on where and when to focus their efforts in terms of ballot measure preparation. BACKGROUND The City has a number of unfunded financial challenges and opportunities. Those financial challenges and opportunities arise through a number of avenues, such as council goals, planning documents, and other community priorities. On February 12, 2007, the council adopted 10 goals. A summary of those goals is included in Attachment A. On January 17, 2007, staff presented the Multi-Year Financial Plan to the Budget Committee. This plan identifies both the capital and operating needs of the entire organization for a six-year period. The plan incorporates unfunded projects and revenue shortfalls from other planning documents such as the Capital Improvement Plan and the General Fund Six-Year Financial Forecast. A summary of the Multi-Year Financial Plan is included as Attachment B. The complete Multi-Year Financial Plan was included in the Budget Committee materials distributed for the January 17, 2007, meeting and is available on the City internet site as part of the published budget document. An updated Multi-Year Financial Plan will be presented to the Budget Committee in early 2008. There are limited opportunities to ask voters to approve money measures, and the City should be strategic about what it places on the ballot to ensure that those measures address the highest priority council goals. The objective of this work session is to get feedback from the council about the strategy for making the best use of available election dates given the currently identified needs of the City. That means that this information does not focus on the financial feasibility or financing plan for each of the proposed local option levy measures. The history of all City revenue measures presented to the voters since 1990 is included as Attachment C. F:\CMO\2007 Council Agendas\M071128\S071128B.doc