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<br />June 24, 2019, Meeting – Item 6 <br /> <br />The Budget Committee recommendation included appropriations for prior year encumbrances and prior year capital projects. A summary of the Budget Committee changes to the FY20 URA Proposed Budget is provided in Attachment A. <br /> <br />Timing Under Oregon Local Budget Law, the FY20 URA budget must be adopted by June 30, 2019, and a copy of the adopting resolution must be filed with the Lane County Assessor by July 15, 2019. <br />Other Background Information The FY20 Proposed Budget document, Budget Committee meeting materials and Budget Committee FY20 budget motions are available on the City’s website at www.eugene-or.gov/budget. <br />PREVIOUS URA BOARD OF DIRECTORS DIRECTION April 15, 2019, Work Session Move to authorize the use of $8 million of Riverfront Urban Renewal funds for the Park and $4 million for the Plaza. (Motion passed) <br /> <br /> <br />URA BOARD OF DIRECTORS OPTIONS After the public hearing on the FY20 URA budget as recommended by the Budget Committee has been held, the URA Board of Directors may make changes to the FY20 budget. The Board may reduce budgeted appropriations in any fund by any amount, as long as resources and requirements remain in balance. No additional process steps are required when appropriations are reduced by the Board. Budgeted appropriations may also be increased by the Board. If the total appropriation increase in any of the reporting funds is less than $5,000 or 10 percent of the fund’s appropriations as recommended by the Budget Committee, whichever is greater, then no additional process steps are required. However, if the appropriations in any fund are increased by more than those limits, the URA Board of Directors must publish a revised budget notice and hold another public hearing before the adjusted budget can be adopted. Due to the timing requirements associated with the budget notice publication, the last option would effectively not be possible, assuming adoption of the FY20 budget by June 30, 2019. If the URA Board of Directors decides to amend the FY20 budget resolution, the motion must contain specific appropriation line(s) being altered in the resolution, and each motion must be self-balancing, meaning that a resource and a requirement must exactly offset each other. <br />AGENCY DIRECTOR’S RECOMMENDATION The Agency Director recommends adoption of the FY20 URA budget as recommended by the Budget Committee.