Item 3: Resolutions Adopting FY11 Budget

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Timing Under the state statute, a budget must be approved prior to July 1, 2010, and a jurisdiction must elect to receive State Revenue Sharing funds and file a copy of the resolution or ordinance with the State of Oregon by July 31, 2010. Other Background Information The FY11 Proposed Budget document, Budget Committee packets, information distributed at Budget Committee meetings, and Budget Committee motions are available on the City’s website. RELATED CITY POLICIES Council Goals The budget supports department work plans designed to further Council Goals and Priorities. Financial Management Goals and Policies The budget was prepared following guidelines established in the Financial Management Goals and Policies. COUNCIL OPTIONS According to ORS 294.435, the City Council is limited to increasing expenditures in a fund by no more than $5,000 or 10 percent, whichever is greater, of the Budget Committee’s approved total in each or any fund. If a larger expenditure increase is desired, republishing the budget summary in the local newspaper and conducting a second public hearing is required. The City Council may reduce revenues, move allocations within a fund and may 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 members of the council wish 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 proposes the following changes to the FY11 City of Eugene Budget approved by the Budget Committee due to the recent adoption of the Downtown Urban Renewal Plan amendment by the Eugene City Council:  Receive an intergovernmental payment of $740,000 from the Urban Renewal Agency (URA) to the City’s Parking Fund to use for Broadway Parking Garage debt service;  Transfer $740,000 from the Parking Fund to the Police Department’s General Fund operating budget for downtown public safety enhancements. The City Manager recommends passage of the two state revenue sharing resolutions and the resolution adopting the Budget Committee’s recommended budget for the City of Eugene including the changes associated with the Urban Renewal Plan Amendment. The City published a legal advertisement Z:\CMO\2010 Council Agendas\M100628\S1006283.doc