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Other Funds <br />Four requests for budget authority are being proposed in other funds. They are: <br />1) The Eugene City Council adopted an amendment for a two-cent increase in the existing local motor <br /> vehicle fuel tax on January 24, 2005. This request recognizes $537,500 in expected additional <br /> revenue in FY05 and increases capital appropriation in the Transportation Utility Fund for the Street <br /> and Alley Preservation program by the same amount. <br />2) This request recognizes intergovernmental payments from partner agencies and revenues from pre- <br /> Ballot Measure 3 confiscations, and closes the Interagency Narcotics Enforcement Team (1NET) <br /> Fund. Fund assets ($247,000) are transferred to the General Fund for a Methamphetamine Lab <br /> Response Program in the Police Department. The 1NET agreement between the partner agencies <br /> (Lane County, Springfield, and Eugene) was dissolved in early FY05. <br />3) The budget for the General Obligation Debt Service Fund underestimated interest expense for the <br /> Parks and Open Space Bonds sold in 2004 by $3,000. This request increases interest expense and <br /> reduces the fund's Debt Service Reserve by $3,000. <br />4) The Library Bond Debt Service Fund requests expenditure authority of $271,412 to provide an <br /> arbitrage rebate on the Library Full Faith and Credit Obligations, Series 2000 as required by federal <br /> law. The Arbitrage Rebate Reserve in the fund is reduced by the same amount. <br /> <br />Expenditure authority is needed immediately to carry out City Council direction or to meet legal or <br />program requirements. <br /> <br />RELATED CITY POLICIES <br />Not applicable. <br /> <br />COUNCIL OPTIONS <br />Particular requests requiring more information or discussion may be removed from the supplemental <br />budget and delayed for action until the third supplemental budget in June. In certain cases there may be <br />a financial or legal impact to delaying budget approval. Council may also adopt amended appropriation <br />amounts or funding sources for specific requests in the supplemental budget. <br /> <br />CITY MANAGER'S RECOMMENDATION <br />The City Manager recommends adoption of the attached resolution adopting the Supplemental Budget. <br /> <br />SUGGESTED MOTION <br />Move to adopt Resolution 4829 adopting a Supplemental Budget; making appropriations for the City of <br />Eugene for the Fiscal Year beginning July 1, 2004 and ending June 30, 2005. <br /> <br />ATTACHMENTS <br />A. Transaction Summary <br />B. Resolution <br /> <br /> L:\CMO\2005 Council Agendas\M050307\S0503073.doc <br /> <br /> <br />