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<br /> <br /> <br />EURA <br />UGENE RBAN ENEWAL GENCY <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br />Action: Adoption of Resolution 1056 Adopting a Supplemental Budget; Making <br />Appropriations for the Urban Renewal Agency for the Fiscal Year Beginning July 1, <br />2009 and Ending June 30, 2010 <br /> <br /> <br />Meeting Date: June 28, 2010 Agenda Item Number: 6 <br />Department: Central Services Staff Contact: Mia Cariaga <br />www.eugene-or.gov Contact Telephone Number: (541) 682-5408 <br /> <br /> <br /> <br /> <br />ISSUE STATEMENT <br />The Agency Board is required to take action on this item. Urban Renewal Agency Board approval of <br />the second Supplemental Budget for FY10 is requested. Oregon Local Budget Law (ORS 294.480) <br />allows for supplemental budgets for "an occurrence...which had not been ascertained at the time of the <br />preparation of a budget for the current year...”. This Supplemental Budget consists of $100,000 in <br />proposed changes to the FY10 Budget. A description of the proposed transaction is provided in <br />Attachment A. This supplemental budget does not authorize any increased property tax levy. <br /> <br /> <br />BACKGROUND <br />Supplemental Budgets recognize new revenue and authorize other unanticipated changes in legal <br />appropriations during a fiscal year. <br /> <br /> <br />RELATED CITY POLICIES <br />This transaction conforms to the City’s Financial Management Goals and Policies. <br /> <br /> <br />AGENCY OPTIONS <br />Particular requests requiring more information or discussion may be removed from the supplemental <br />budget and delayed for action in a future supplemental budget in FY11. In certain cases, there may be a <br />financial or legal impact to delaying budget approval. The Agency Board may also adopt amended <br />appropriation amounts or funding sources for specific requests in the supplemental budget. <br /> <br /> <br />AGENCY DIRECTOR’S RECOMMENDATION <br />The Agency Director recommends approval of the attached resolution adopting the Supplemental <br />Budget. <br /> <br /> <br />SUGGESTED MOTION <br />Move to adopt Resolution 1056 adopting the FY10 June Supplemental Budget; making appropriations <br />for the Urban Renewal Agency for the fiscal year beginning July 1, 2009, and ending June 30, 2010. <br /> Z:\CMO\2010 Council Agendas\M100628\S1006286.doc <br /> <br />