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Economic Factors and Next Year’s Budgets and Rates <br />During the preparation of the budget for the ensuing fiscal year, the long-term impacts of the local economy were <br />examined in conjunction with business decisions made by the City. The following are the major assumptions used in <br />developing the FY 2010 budget: <br /> Interest rates on investments will be 1.0%. <br /> Property tax revenue is expected to increase 7.4% in FY 2010. <br /> Salaries for Non-represented and International Alliance of Theatrical Stage Employees union members will remain <br />unchanged, the other collectively bargained agreements will increase between 3.8% - 4.1%. <br /> Health benefit rates will increase by 6.5%. <br /> PERS costs are expected to be 22% of payroll. <br />During the current fiscal year, budget-basis unreserved fund balance in the General Fund decreased to $32.0 million, <br />an increase of $2.0 million over the prior year. City staff will be submitting a FY 2010 supplemental budget to the City <br />Council in December which appropriates $1.6 million in FY 2009 ending fund balance for reappropriations. <br />Requests for Information <br />This financial report is designed to provide a general overview of the City’s finances for those with an interest in the <br />government’s finances. Questions concerning any of the information provided in this report or requests for additional <br />financial information should be addressed to: <br />Fionan Cronin, CPA <br />Financial Reporting Manager <br />City of Eugene <br />th <br />100 West 10 Avenue, Suite 400 <br />Eugene, Oregon 97401 <br />