Item 5: Resolution Adopting FY08 Budget

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State Revenue Sharing: The City’s Revenue and Collection Policy 1 states, “The City will decrease the dependence on property taxes and diversify the supporting revenue base in the General Fund.” Electing to receive State Revenue Sharing supports this policy. Financial and/or Resource Considerations Financial and/or resources considerations are detailed in the FY08 Proposed Budget document and Budget Committee motions. A summary of the Budget Committee actions is provided in Attachment A. State Revenue Sharing The FY08 estimated revenue from State Revenue Sharing is $1,087,000. The funds will be used to support General Fund services. A public hearing on possible uses of these funds was held by the Budget Committee on May 15, 2007. Budget Committee Recommendation Budget Committee review consisted of seven work sessions and one public hearing. Public comment was heard at the beginning of four of the work sessions. A public hearing on the budget proposal was conducted on May 15, 2007. The Budget Committee recommendation consists of the City Manager’s Proposed Budget for FY08, with several amendments. The Budget Committee recommendation, unanimously approved on May 16, 2007, is as follows: Ms. Rygas, seconded by Mr. Gaston, moved that the Budget Committee recommend to the Eugene City Council a FY08 budget for the City of Eugene that consists of the City Manager’s proposed FY08 budget, including the property tax levies and/or rates contained therein, amended to reflect appropriations for prior year encumbrances and prior year capital projects, and the amendments to the manager’s proposed FY08 budget which have been adopted by the Budget Committee. The motion passed unanimously. A summary of the Budget Committee’s recommended changes to the City Manager’s Budget are shown by fund and department below. All change proposals and the committee votes are shown in Attachment B. Attachment A reconciles the recommended budget to the proposed budget. General Fund Operating Budget Central Services Department: $15,000 increase for the Sister Cites program funded by a city-wide reduction in the ? materials and services budget. Planning and Development Department : $140,000 one-time funding for Human Services Commission stabilization ? $150,000 one-time funding for homeless prevention services ? $12,000 one-time funding for neighborhood grants to neighborhoods most affected by ? Olympic Trials events, supported by a reduction in the Olympic Trials planning and security budget $50,000 one-time funding to continue support for two additional DEI guides, supported by ? City-wide reduction in materials and services budget L:\CMO\2007 Council Agendas\M070611\S0706115.doc