12-12-16 Council Agenda Packet - Laserfiche WebLink

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URBAN RENEWAL AGENCY OF THE CITY OF EUGENE, OREGON Notes to Basic Financial Statements (1) Summary of Significant Accounting Policies, continued (D) Measurement Focus, Basis of Accounting, and Financial Statement Presentation, continued Governmental Funds, continued Debt Service Fund The Debt Service Fund is used to account for the accumulation of tax increment resources and the payment of debt service on tax increment bonds and other expenditures within the Downtown District. Capital Projects Fund The Capital Projects Fund is used to account for the financial resources to be used for the acquisition or construction of capital projects within the Downtown District. The following are the Agency's Riverfront District governmental funds: Riverfront Special Revenue Fund The Riverfront Special Revenue Fund is used to account for the accumulation of tax increment resources and to pay Riverfront District management costs. Riverfront Capital Projects Fund The Riverfront Capital Projects Fund is used to account for the financial resources that are restricted to expending for acquisition or construction of capital projects within the Riverfront District. Riverfront Program Revenue Fund The Riverfront Program Revenue Fund is used to account for program revenue and expenditures from the Riverfront District. (E) Equity in Pooled Cash and Investments The Agency invests cash through the City into various investment programs. Policies adopted by the City’s Investment Advisory Board and the Eugene City Council authorize the City to invest in obligations of the U.S. Treasury and its agencies, time certificates of deposit, governmental money market bank deposit accounts, bankers’ acceptances, municipal bonds, corporate bonds, commercial paper, repurchase agreements, reverse repurchase agreements, and the Oregon Local Government Investment Pool. It is the City’s policy to report at amortized cost all short-term, highly-liquid money market investments (including corporate bonds, commercial paper, bankers’ acceptances, municipal bonds, and U.S. Treasury and agency obligations) and participating interest-earning investment contracts with a remaining maturity at time of purchase of one year or less. Such investments are stated at cost, increased by accretion of discounts and reduced by amortization of premiums, both computed by the straight-line method. Callable investments purchased at a discount are amortized to the maturity date, and callable investments purchased at a premium are amortized to the first call date. Investments with a remaining maturity at time of purchase of more than one year are valued at fair value. continued