03/02/1983 Meeting - Laserfiche WebLink

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e e Councilor Wooten suggested that, in the future, the council consider the origin and history of the fund and development of a more formal process for making and evaluating requests for fund allocations. Mayor Keller agreed that this would be appropriate. Councilor Holmer suggested that the council approve a motion to make the grant as a loan, with the expectation that if the funds cannot be repaid from the proceeds of the event, the council would consider the financial report of the event and determine after reviewing that report whether any of the amount should be considered a grant. Mayor Keller said that the intent of the grant was to allow the organizers to purchase advertising for the event. Mr. Post emphasized that this was a destination-point activity, which would bring dollars into Eugene. Mayor Keller said he felt it was inappropriate to make this a loan, since a loan might cause apprehension regarding expenditure of the funds and thus detract from purchasing of the advertising needed to make the event a success. Mr. Gleason noted that this fund must be used for outright grants but said that repayment to the General Fund was a possibility. Ms. Schue moved, seconded by Mr. Obie, to grant $3,500 from the Civic Emergency Fund for 1983 to the Northwest Senior Sports Festival and to direct the City Manager to prepare a supplemental budget authorizing this expenditure. Roll call vote; motion carried unanimously. Mayor Keller thanked Mr. Post for his work on this project and the council for its allocation of funds. V. ADOPTION OF FINANCIAL MANAGEMENT POLICIES (memo, additional information distributed) ~lr. Gleason introduced Finance Director Warren Wong. Mr. Wong noted that staff had prepared a draft statement of financial management policies for the City for consideration at the February 28, 1983, Financial Planning Committee meeting. He said these mainly reiterated existing policies previously established by the councilor the Budget Committee. Mr. Wong said that the Financial Planning Committee had recommended some changes in the draft for council consideration at this time. Councilor Holmer referred to Policy 19, Funding for Capital Projects Funds, and said he was concerned with the dedication of particular revenues for particular purposes. Mr. Wong said that General Capital Projects included City facilities, Park facilities, and street overlays and that dedication of revenues for these projects, as well as storm sewers, was proposed. Councilor Holmer asked if a single dedicated revenue source was proposed for both categories. Mr. Wong responded that this was not the case and that there would be several funding sources. Councilor Holmer agreed that this type of fund dedication, such as is already done with Airport funds, was a good idea. Councilor Holmer then referred to POlicy 20, Related Entities. He asked whether an item had to meet all five of the defined categories to be determined a related entity. Mr. Wong said that this policy directive was issued by the 4It National Council on Governmental Accounting last year and that agreement on how MINUTES--Eugene City Council March 2, 1983 Page 4