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<br />M I N U T E S <br /> <br /> <br />Eugene City Council <br />Work Session/Workshop <br />Bascom/Tykeson Room, Eugene Public Library <br />100 West 10th Avenue—Eugene, Oregon <br /> <br /> December 12, 2007 <br /> 11:30 a.m. <br /> <br />COUNCILORS PRESENT: Chris Pryor, Betty Taylor, Bonny Bettman, Jennifer Solomon, George <br />Poling, Mike Clark, Alan Zelenka. <br /> <br />COUNCILORS ABSENT: Andrea Ortiz. <br /> <br /> <br />Her Honor Mayor Kitty Piercy called the meeting of the Eugene City Council to order. She noted that 30 <br />minutes had been added to the agenda in order to address the supplemental budget. <br /> <br />WORK SESSION: Discussion of Supplemental Budget #1 <br /> <br />City Manager pro tem Angel Jones apologized for adding the supplemental budget discussion to the agenda <br />on short notice. She said staff were available to answer questions and hoped that the council would be able <br />to adopt the supplemental budget at the conclusion of its discussion. <br /> <br />Ms. Bettman stated that staff had responded to many of her questions and she was satisfied that the <br />supplemental budget was within policy. She noted there was an additional $75,000 in the Urban Renewal <br />Agency (URA) budget for the West Broadway project and asked how that reconciled with the $350,000 <br />already added to the URA budget. Planning Director Susan Muir explained that the council approved the <br />funds on December 10 to reimburse the Planning and Development Department for expenditures on behalf <br />of the URA. <br /> <br />Ms. Bettman said she had many more issues with the transactions that did not involve General Fund moneys <br />and the decisions that were made regarding the allocation of beginning working capital to ongoing projects <br />and reserves. She concluded that there should be a review of reserve policies to assure adequate funds for <br />operations and appropriate levels of reserves. <br /> <br />Mr. Clark said he would support a work session on reserve policy issues. <br /> <br />Mr. Poling noted that the City had received national recognition for its financial management. He asked if <br />changing reserve policies would jeopardize the City's bond rating and ability to borrow money in the future. <br />Central Services Director Jim Carlson replied that would depend on the nature of the changes. He said the <br />City currently had good financial policies in place, including reserve policies, but he would support a council <br />review. <br /> <br />Mr. Poling asked if the issue should be discussed at a joint meeting of the council and the Budget Commit- <br />tee. City Manager pro tem Jones agreed that involving the Budget Committee in a review of policies was <br />consistent with the committee's role and the interest in policies expressed by its members. <br /> <br /> <br />MINUTES—Eugene City Council December 12, 2007 Page 1 <br /> Work Session <br /> <br />