01/27/1992 Meeting (2) - Laserfiche WebLink

Home Browse Search

e II. PUBLIC HEARING: ADOPTION OF THE DRAFT CITY OF EUGENE CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEARS 1992-93 THROUGH 1997-98 City Manager Mike Gleason introduced the topic. Teresa Bishow, Planning and Development Department, presented the staff report. Copies of a flowchart were provided for the council. In July 1992, as part of the Eugene Decisions process, the council determined that $4.5 million of General Fund revenue was required to maintain the City's existing capital assets that are dependent on the use of General Fund monies. Figures shown in the draft CIP reflect the council's target of $4.5 million and represent the amount of funds needed to preserve the City's existing capital assets and address a limited number of priority changes and additions. The capital budget which the council will adopt later this year will emphasize the preservation and maintenance of existing capital assets that are reliant on the use of General Fund revenue. The General Fund target for the FY92-93 Capital Budget was between $1.5 mil- lion and $2 million. She explained that changes in City services resulting from the Eugene Decisions process would require changes to next year's CIP if the need for capital assets change. If the Eugene Decisions process results in different revenue sources available to the City, these changes would af- fect next year's CIP and the amount of General Fund revenue for capital projects. She said the Planning Commission held a public hearing on the draft CIP and did not receive any written or oral comments. The Planning Commission recommended approval of the draft CIP. She noted that changes and additions that emerged following the Budget Committee's January 14 work ses- sion on the draft CIP were noted on the errata sheet included in the council e packets. Mayor Miller opened the public hearing. There being no requests to speak, the public hearing was closed. Mr. Boles moved, seconded by Mr. Green, to adopt the draft Capital Improvement Program for FY92-93 through FY97-98, in- corporating the amendments noted on the errata sheet dated January 17, 1992. Roll call vote; the motion passed unani- mously, 6:0. III. RESOLUTION ACCEPTING AND APPROVING THE CITY OF EUGENE FY91 COMPREHENSIVE ANNUAL FINANCIAL REPORT City Manager Mike Gleason introduced the topic. Administrative Services Director Warren Wong presented the staff report for this item and Item V. He said that the City's FY91 Comprehensive Annual Financial Report (CAFR) and Urban Renewal Agency's FY91 Component Unit Financial Statements were prepared by staff and audited by the City's auditor, Coopers & Lybrand. The auditor issued an unqualified opinion on the financial statements. Mr. Gleason said the auditors declined to submit a management letter this year and that this reflects the commendable work of Mr. Wong and his staff. Mayor Miller ex- pressed positive comments about Mr. Wong's work. e MINUTES--Eugene City Council January 27, 1992 Page 2