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Economic Factors and Next Year’s Budgets and Rates <br />During the preparation of the budget for the ensuing fiscal year, the long-term impacts of the local economy were <br />examined in conjunction with business decisions made by the City. The following are the major assumptions used in <br />developing the FY16 budget: <br /> Property tax revenue is expected to increase 4.0% in FY16. <br /> Salaries for non-represented employees and employees covered under collective bargaining agreements will <br />increase 2.0% – 3.0%. <br /> Health benefit rates will increase by 7.0%. <br /> Retirement costs are expected to range from 22.05% to 29.5% of payroll, depending on which pension plan the <br />employee participates in. <br /> Interest rates on investments will be 0.75%. <br /> for Information <br />Requests <br />This financial report is designed to provide a general overview of the City’s finances. Questions concerning any of the <br />information provided in this report or requests for additional financial information should be addressed to: <br />Fionan Cronin, CPA <br />Assistant Finance Director <br />City of Eugene <br />th <br />100 West 10 Avenue, Suite 400 <br />Eugene, Oregon 97401 <br />25 <br />