Item 4: FY10 Proposed Budget for the URA

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Budget Committee Recommendation Budget Committee review consisted of six work sessions and one public hearing on the City of Eugene and the Urban Renewal Agency budgets. Public comment was received at three of the work sessions and a separate public hearing on the budget proposal was conducted on May 18, 2009. The Budget Committee recommendation was moved by Ms. Syrett and seconded by Ms. Solomon. It was unanimously approved on May 20, 2009: Move that the Budget Committee recommend to the Eugene City Council, acting as the Urban Renewal Agency Board of Directors, a FY10 Budget for the Eugene Urban Renewal Agency that consists of the City Manager’s FY10 Proposed Budget, including the property tax levies and/or rates contained therein, and amended to reflect appropriations for prior year encumbrances and prior year capital projects. Timing Under the State Statute, a budget must be approved prior to July 1, 2009, and a copy of the adopting resolution filed with the County Assessor by July 31, 2009. Other Background Information The FY10 Proposed Budget document, Budget Committee packets, information distributed at Budget Committee meetings, and Budget Committee motions are available on the City’s website. COUNCIL OPTIONS According to ORS 294.435, the Urban Renewal Agency’s governing body is limited to increasing expenditures in a fund by no more than $5,000 or 10 percent, whichever is greater, of the Budget Committee approved total in each or any fund. If a larger expenditure increase is desired, republishing the budget and conducting a second public hearing is required. The Agency Board of Directors may reduce revenues, move allocations within a fund and decrease expenditures; however, all actions must result in a balanced budget, where revenues equal expenditures, for each fund. Any increase to property taxes above the rate or amount approved by the Budget Committee requires republishing the budget summary and conducting a second public hearing. If a director makes a motion to amend the budget resolutions, the motion must contain the 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. CITY MANAGER’S RECOMMENDATION The City Manager recommends adoption of the FY10 Urban Renewal Agency Budget as recommended by the Budget Committee. SUGGESTED MOTION Move to adopt Resolution 1052 of the Urban Renewal Agency of the City of Eugene adopting the budget and making appropriations for the fiscal year beginning July 1, 2009 and ending June 30, 2010. Z:\CMO\2009 Council Agendas\M090622\S0906224.doc