Agenda Packet 12-9-19 Meeting - Laserfiche WebLink

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December 9, 2019, Meeting – Item 4 and pavement preservation program funding and $1.3 million for the southern crossings from the Riverfront Urban Renewal District. This supplemental budget also includes $1 million in the Construction and Rental Housing Fund (Affordable Housing Trust) which is partially funded by the General Fund transfer of $0.5 million from MBWC. These funds are to pay for projects and programs that increase availability and access to owner and renter occupied housing to lower income community members. Efficient Government: The largest items in this category represent reappropriation of funds not expended in FY19 for telecom projects and equipment. New one-time spending includes increased corporate software operating funds, a contingency for emerging IT projects, and staffing in the professional services fund. Engagement: Increased performance activity at the Hult Center, resulting in additional revenue and expenses in the Cultural Services Subfund, budgeted at $1.5 million. Homelessness Operations: One-time funding of $0.9 million for homeless shelter options in the General Capital Fund. Grants and Revenue Backed Items: There is $1.4 million of new grant revenue and revenue backed items. The largest is a grant for $779,981 for the Coburg Loop-N Coburg Industrial Way funded by a federal grant from ODOT and the City of Coburg matching funds. Community Safety Fund This supplemental budget creates a new Community Safety Fund, as laid out in the ordinance. The fund will contain the proceeds of the payroll tax and all expenditures that are funded with the tax. In this supplemental budget, the Bridge Funding services will be transferred out of the General Fund and into the new tax, along with the $3 million loan for tax implementation and Bridge Plus funding. These services will be paid for with existing one-time dollars that are transferred as well as $3 million from the RRSF. The FY21 Proposed Budget will include repayment of this first loan, as well as provide for another loan during the remaining ramp up to implementation of the services. The second loan will be repaid in FY22, which will be the first year of full tax implementation. Timing In some cases, expenditure authority is needed immediately to carry out City Council direction or to meet legal or program requirements. Approval of SB1 in December allows the organization to prepare more accurate mid-year projections by having the general ledger reflect the audited balances in each fund. This, in turn, enables staff to more accurately project the Beginning Working Capital for the next fiscal year’s Proposed Budget. PREVIOUS COUNCIL DIRECTION The supplemental budget includes many budget changes as a result of previous council direction and discussion. Some of the recent council meetings that have resulted in supplemental budget appropriations include but are not limited to: November 25, 2019, Community Safety Initiative Update Council received an update on programmatic and financial information related to the Community Safety Initiative and the Payroll Tax. The update included information about this supplemental budget. CC Agenda - Page 294