03/17/1986 Meeting (2) - Laserfiche WebLink

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. e e e e Answering a question from Mayor Obie, Mr. Wong said the policies are being considered by the council because representatives of Moody's Investor Services will be in Eugene next week and because the policies are needed to guide the Budget Committee. Mr. Wong said the Financing Strategy for the operating and capital budgets includes: 20 percent of the delinquent property taxes being transferred incrementally to the capital fund; allocating to the CIP funding in excess of that required to balance the operating budget; funding the balance of the CIP with new user fees and charges, new or enhanced revenue sources, or service reductions; and proposing the capital budget as Tier 1 and Tier 2 projects. He said the capital budget will balance the operating budget. He said the proposed CIP is for $2.3 million, and $723,000 of it is funded and $1.6 million is not funded. Mr. Wong said a memo to the Budget Committee from the council was distributed to the councilors. He said the memo will be sent to the Budget Committee if the council approves the Financial Management Policies and the Financing Strategy. Answering a question from Ms. Wooten about the municipal priority system on page 2 of the Financial Management Policies, Mr. Wong said the council decided not to change the priorities. Mayor Obie suggested the council discuss the municipal priority system at another time. Ms. Schue said she and other councilors have tried for years library from the fifth group Financial Management Policies. that the library does not have the lowest priority will have the Budget Committee. to move the She said the fact to be fl agged by Mr. Holmer said he concurred with Ms. Wooten's and Ms. Schue's concern, but the Budget Committee must use discretion. He said the proposed management policies are an appropriate guide. Mr. Hansen moved, seconded by Mr. Holmer, to adopt the Financial Management Policies, the Financing Strategy, and a memo to the Budget Committee. Roll call vote; the motion carried 6:0:1 with Mr. Hansen, Ms. Schue, Mr. Holmer, Ms. Bascom, Mr. Miller, and Mr. Rutan voting aye, no one voting nay, and Ms. Wooten abstaining. Mayor Obie adjourned the meeting at 10 p.m. !;SP~.~~l_~ ~u~ it~ d /'? f~' __ Mi tea 1 Gl easo ... Ci ty Manager (Recorded by Betty Lou Rarick) BLR:ky/1996C MINUTES--Eugene City Council March 17, 1986 Page 12