Agenda Packet 12-9-19 Meeting - Laserfiche WebLink

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URBAN RENEWAL AGENCY OF THE CITY OF EUGENE, OREGON Notes to Basic Financial Statements continued (3)Stewardship, Compliance, and Accountability, continued (A) Budgetary Information, continued Unexpected additional resources or appropriations may be added to the budget through the use of a supplemental budget. A supplemental budget requires hearings before the public, publications in newspapers, and approval by the Agency. Original and supplemental budgets may be modified by the use of appropriation transfers between the levels of control. Such transfers require approval by passing an Agency resolution authorizing the transfer. All budget amendments are subject to the limitations put forth in the Oregon Revised Statutes Chapters 294.305 through 294.565 (Oregon Budget Law). The net effect of amending resolutions passed during the fiscal year was an appropriation increase of $1,851,173. (4)Detailed Notes on All Funds (A)Equity in Pooled Cash and Investments The City maintains a common cash and investments pool that is available for use by all funds, including the Agency. The Agency’s portion of this pool is displayed in the Statement of Net Position and the Balance Sheet as "Equity in pooled cash and investments.” Cash and investments are comprised of the following at June 30, 2019: Deposits with banks $ 2,464,318 Investments 15,520,153 $ 17,984,471 Detailed information for the Agency’s pooled cash and investments can be found in the City’s FY19 Comprehensive Annual Financial Report (Notes to Basic Financial Statements). (B) Unavailable Revenue Unavailable revenues are reported as a deferred inflow of resources in the governmental funds Balance Sheet. Unavailable revenues are reported in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. The various components of unavailable revenue consist of the following: Unavailable Property taxes receivable: Debt Service Fund $ 102,288 Riverfront Special Revenue Fund 82,562 Notes receivable: General Fund 2,340,500 Total unavailable/unearned revenue $ 2,525,350 27 December 9, 2019, Meeting - Item 3CC Agenda - Page 267