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Item 6: Resolution Adopting FY12 Proposed Budget
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Item 6: Resolution Adopting FY12 Proposed Budget
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6/27/2011
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<br />Non-Departmental: <br /> <br /> <br />Increase the General Fund Unappropriated Ending Fund Balance (UEFB) by $109,900 and <br />decrease the Reserve for Revenue Shortfall by the same amount to comply with the City <br />policy to maintain two months of expenditures in UEFB. This change was not explicitly <br /> <br />recommended by the Budget Committee. <br /> <br />The Budget Committee approved including appropriations for prior fiscal year encumbrances and <br />estimated unexpended capital project funds in the FY12 budget. Encumbrance carryover is for <br />operating budget items encumbered but not expended in FY11. Capital project carryover is for capital <br />appropriations that are estimated to remain unexpended at the end of FY11. Attachment A provides the <br />information on encumbrance and capital project carryover by fund. <br /> <br />The Budget Committee also made several recommendations that do not affect the FY12 proposed <br />budget. Those recommendations are included in Attachment B. <br /> <br />Public Hearing <br />Oregon Local Budget Law requires the City to conduct a public hearing to hear testimony on the FY12 <br />City of Eugene Annual Budget as approved by the Budget Committee and on the proposed uses of State <br />Revenue Sharing funds. A public hearing was held on Monday, June 20, 2011; four citizens provided <br /> <br />comment. <br /> <br />Timing <br /> <br />Under state statute, a budget must be approved prior to July 1, 2011, and a jurisdiction must elect to <br />receive State Revenue Sharing funds and file a copy of the resolution or ordinance with the State of <br />Oregon by July 31, 2011. <br /> <br />Other Background Information <br /> <br />The FY12 Proposed Budget document, Budget Committee packets, information distributed at Budget <br />Committee meetings, and Budget Committee motions are available on the City’s website at: <br />www.eugene-or.gov/budget. <br /> <br /> <br />RELATED CITY POLICIES <br />Council Goals <br /> <br />The budget supports department work plans designed to further Council Goals and Priorities. <br /> <br />Financial Management Goals and Policies <br />The budget was prepared following guidelines established in the Financial Management Goals and <br />Policies. <br /> <br /> <br />COUNCIL OPTIONS <br />According to ORS 294.435, the City Council is limited to increasing expenditures in a fund by no more <br />than $5,000 or 10 percent, whichever is greater, of the Budget Committee’s approved total in each or <br />any fund. If a larger expenditure increase is desired, republishing the budget summary in the local <br />newspaper and conducting a second public hearing is required. The City Council may reduce revenues, <br />move allocations within a fund and may decrease expenditures; however all actions must result in a <br /> \\Cesrv500\cc support\CMO\2011 Council Agendas\M110627\S1106276a.doc <br />
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