Item 5: Resolution Adopting FY08 Budget

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Public Hearing and Action: Resolution 4910 Electing to Receive State Revenue Sharing Funds Pursuant to Section 221.770 of Oregon Revised Statutes; Resolution 4911 Certifying that the City of Eugene Provides the Municipal Services Required by Oregon Revised Statutes Section 221.760; and Resolution 4912 Adopting the Budget, Making Appropriations, Determining, Levying and Categorizing the Annual Ad Valorem Property Tax Levy for the City of Eugene for the Fiscal Year Beginning July 1, 2007 and Ending June 30, 2008 Meeting Date: June 11, 2007 Agenda Item Number: 5 Department: Central Services Staff Contact: Kitty Murdoch www.eugene-or.gov Contact Telephone Number: 682-5860 ISSUE STATEMENT Oregon Local Budget Law requires the City to conduct a public hearing to hear testimony on the FY08 City of Eugene Annual Budget as recommended by the Budget Committee on May 16, 2007, and on the proposed uses of State Revenue Sharing funds. Resolutions electing to receive State Revenue Sharing in the Fiscal Year beginning July 1, 2007, and ending June 30, 2008, and certifying that the City of Eugene provides municipal services required for receipt of state-shared revenues are also required in order to continue receiving those state funds. Finally, ORS 294.434 requires the City Council to pass a resolution adopting the budget, making appropriations, determining, levying and categorizing the annual ad valorem property tax for the City of Eugene for the fiscal year beginning July 1, 2007, and ending June 30, 2008. BACKGROUND The City Council has consistently met the requirement of Oregon Local Budget Law which requires that a jurisdiction adopt an annual budget by June 30 of each year. If a jurisdiction elects to receive State Revenue Sharing funds, it must hold a public hearing on the proposed uses of the funds and adopt resolutions or ordinances electing to receive the funds and certifying that the city provides qualifying municipal services. Policy Issues Annual Budget: ORS 294.435 provides that after the public hearing “has been held, the governing body shall enact the proper ordinances or resolutions to adopt the budget, to make the appropriations, to determine, make and declare the ad valorem property tax amount or rate to be certified to the assessor for either the ensuing year or each of the years of the ensuing budget period and to itemize and categorize the ad valorem property tax amount or rate as provided in ORS 310.060.” L:\CMO\2007 Council Agendas\M070611\S0706115.doc