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<br />e <br /> <br />.e <br /> <br />e <br /> <br />M E M 0 RAN DUM <br /> <br />January 3, 1985 <br /> <br />TO: City Council <br /> <br />FROM: Warren G. Wong, Finance Director <br /> <br />SUBJECT: Five Year Forecast and State Revenue Sharing Ordinance <br /> <br />Attached are copies of the City's long range financial planning <br />statement and council bill required by the State of Oregon <br />as a condition of eligibility for State Revenue Sharing <br />funds (ORS 221. 770). <br /> <br />The five year financial projection must be prepared using the <br />form and content prescribed by the State Executive Department. <br />The financial plan includes projections for all City funds. <br />~lease note that, after reviewing the methodology implied by <br />the designated form, staff modified the form to provide a .more <br />meaningful representation of the City's revenues and expenditures. <br />The projection must be approved by Council prior to submittal to <br />the State. <br /> <br />The attached council bill is to certify the City's request to the <br />State of Oregon Executive.Department for receipt of State Revenue <br />Sharing funds for the fiscal year beginning July 1, 1985 and <br />ending June 30, 1986 (FY86) The passage of this ordinance is <br />required under the provisions of the State Revenue Sharing Act. <br /> <br />Public hearings will be held before the Budget Committee on the <br />uses of State Revenue Sharing funds during the budget approval <br />process in the Spring. <br /> <br />cc: D. Whitlow <br />G. Long <br /> <br />Attachments <br /> <br />fnmmsrso <br /> <br />\ <br />