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Home My WebLink AboutURA Resolution No. 1069URBAN RENEWAL AGENCY RESOLUTION NO. 1069 A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET; MAKING APPROPRIATIONS FOR THE URBAN RENEWAL AGENCY OF THE CITY OF EUGENEFOR THE FISCAL YEAR BEGINNING JULY 1, 2013, AND ENDING JUNE 30, 2014. DATE SUBMITTED: December 09, 2013 PASSED: 8:0 OPPOSED: ABSENT: RECUSED: REJECTED: RESOLUTION NO. 1069 A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET; MAKING APPROPRIATIONS FOR THE URBAN RENEWAL AGENCY OF THE CITY OF EUGENEFOR THE FISCAL YEAR BEGINNING JULY 1, 2013, AND ENDING JUNE 30, 2014. The Urban Renewal Agency of the City of Eugene finds that adopting the Supplemental Budget and making appropriations is necessary under ORS 294.471. NOW THEREFORE, BE IT RESOLVED BY THE URBAN RENEWAL AGENCY OF THE CITY OF EUGENE as follows: Section 1. That the Supplemental Budget for the Urban Renewal Agency of the City of Eugene, Oregon, for the fiscal year beginning July 1, 2013, and ending June 30, 2014, as set forth in attached Exhibit "A" is hereby adopted. Section 2. The supplemental amounts for the fiscal year beginning July 1, 2013, and ending June 30, 2014, and for the purposes shown in attached Exhibit "A" are hereby appropriated. Section 3. That this Supplemental Budget is prepared in accordance with ORS 294.471(1), which authorizes the formulation of a supplemental budget resulting from "an occurrence or condition which had not been ascertained at the time of the preparation of a budget for the current year or current budget period which requires a change in financial planning." This Supplemental Budget was published in accordance with ORS 294.471(3). Section 4. This resolution complies with ORS 294.471(4), and does not authorize an increase in the levy of property taxes above the amount published in the Annual Budget publication. The foregoing resolution adopted this 9th day of December, 2013. Director Exhibit A Transaction Summary 817 Urban Renewal Agency Downtown General Fund FY14 FY14 FY14 Adopted SB1 Action Revised I. RESOURCES BEGINNING WORKING CAPITAL 110,000 205,450 a 315,450 CHANGE TO WORKING CAPITAL REVENUE Miscellaneous Interfund Transfers Fiscal Transactions Total Revenue 61,000 0 61,000 205,000 0 205,000 230,000 0 230,000 496,000 0 496,000 TOTAL RESOURCES II. REQUIREMENTS Department Operating Planning and Development Total Department Operating 606,000 205,450 811,450 205,000 0 205,000 0 205,000 205,000 Non - Departmental Misc. Fiscal Transactions Intergovernmental Expend. Contingency Reserve Reserve for Encumbrances Balance Available Total Non - Departmental TOTAL REQUIREMENTS 366,000 205,450 a 571,450 0 0 0 0 0 0 0 0 0 0 0 0 35,000 0 35,000 401,000 205,450 606,450 606,000 205, 811,45 817 Urban Renewal Agency Downtown General Fund a) Beginning Working Capital Reconciliation: Increase the budgeted Beginning Working Capital by $205,450 and increase Downtown Revitalization Loan Program (DRLP) appropriations by the same amount. This adjustment brings the FY14 Budgeted Beginning Working Capital in compliance with the audited FY13 actual revenues and expenditures as determined by Isler & Company, LLC, the City's external auditor. 812 Urban Renewal Agency Downtown Debt Service Fund FY14 FY14 FY14 Adopted SB1 Action Revised I. RESOURCES BEGINNING WORKING CAPITAL 836,898 533,676 a 1,370,574 CHANGE TO WORKING CAPITAL REVENUE Taxes Miscellaneous Total Revenue 1,760,000 0 1,760,000 5,000 0 5,000 1,765,000 0 1,765,000 TOTAL RESOURCES 2,601,898 533,676 3,135,574 II. REQUIREMENTS Non - Departmental Debt Service Interfund Transfers Balance Available Total Non - Departmental 1,648,400 0 1,648,400 205,000 0 205,000 748,498 533,676 a 1,282,174 2,601,898 533,676 3,135,574 TOTAL REQUIREMENTS 2,601,898 533,676 3,135,574 812 Urban Renewal Agency Downtown Debt Service a) Beginning Working Capital Reconciliation: Increase the budgeted Beginning Working Capital by $533,676, and increase Balance Available by the same amount. This adjustment brings the FY14 budgeted Beginning Working Capital in compliance with the audited FY13 actual revenues and expenditures as determined by Isler & Company, LLC, the City's external auditor. 813 Urban Renewal Agency Downtown Capital Projects Fund FY14 FY14 FY14 Adopted SB1 Action Revised I. RESOURCES BEGINNING WORKING CAPITAL 558,730 131,594 a 690,324 CHANGE TO WORKING CAPITAL REVENUE Miscellaneous Total Revenue 2,000 0 2,000 2,000 0 2,000 TOTAL RESOURCES 560,730 131,594 692,324 II. REQUIREMENTS Capital Projects Capital Carryover Total Capital Projects 543,672 (2,700) a,b 540,972 543,672 (2,700) 540,972 Non - Departmental Balance Available Total Non - Departmental TOTAL REQUIREMENTS 17,058 134,294 a,b 151,352 17,058 134,294 151,352 560,730 131,594 692,324 813 Urban Renewal Agency Downtown Capital Projects Fund a) Beginning Working Capital Reconciliation: Increase the budgeted Beginning Working Capital by $131,594, decrease Capital Carryover appropriations by $2,700, and increase Balance Available by $134,294. These adjustments bring the FY14 budgeted Beginning Working Capital in compliance with the audited FY13 actual revenues and expenditures as determined by Isler & Company, LLC, the City's external auditor. b) Capital Carryover Reconciliation: Decrease the capital carryover by $2,700, and decrease Balance Available by the same amount. This action reconciles the FY14 Capital Carryover Estimate to the actual ending FY13 capital projects balance. 821 Urban Renewal Agency Riverfront General Fund FY14 FY14 FY14 Adopted SB1 Action Revised I. RESOURCES BEGINNING WORKING CAPITAL 5,892,245 29,921 a 5,922,166 CHANGE TO WORKING CAPITAL REVENUE Taxes Rental Miscellaneous Total Revenue 990,000 0 990,000 63,000 0 63,000 35,000 0 35,000 1,088,000 0 1,088,000 TOTAL RESOURCES II. REQUIREMENTS 6,980,245 29,921 7,010,166 Department Operating Planning and Development 229,738 0 229,738 Total Department Operating 229,738 0 229,738 Non - Departmental Balance Available 6,750,507 29,921 a 6,780,428 Total Non - Departmental 6,750,507 29,921 6,780,428 TOTAL REQUIREMENTS 6,980,245 29,921 7,01 821 Urban Renewal Agency Riverfront General Fund a) Beginning Working Capital Reconciliation; Increase the budgeted Beginning Working Capital by $29,921, and increase Balance Available by the same amount. This adjustment brings the FY14 budgeted Beginning Working Capital in compliance with the audited FY13 actual revenues and expenditures as determined by Isler & Company, LLC, the City's external auditor. 823 Urban Renewal Agency Riverfront Capital Projects Fund FY14 FY14 FY14 Ad opted SB1 Action Revised I. RESOURCES BEGINNING WORKING CAPITAL 453,813 697,572 a 1,151,385 CHANGE TO WORKING CAPITAL REVENUE Total Revenue 0 0 0 TOTAL RESOURCES 453,8 697,572 1,151,385 II. REQUIREMENTS Capital Projects Capital Carryover Total Capital Projects 430,000 (5,589) a,b 424,411 430,000 (5,589) 424,411 Non - Departmental Balance Available Total Non - Departmental TOTAL REQUIREMENTS 23,813 703,161 a,b 726,974 23,813 453,813 703,161 69 7,572 726,974 1,151,385 823 Urban Renewal Agency Riverfront Ca pital Projects Fund a) Beginning Working Capital Reconciliation: Increase the budgeted Beginning Working Capital by $697,572, decrease Capital Carryover appropriations by $5,589, and increase Balance Available by $703,161. These adjustments bring the FY14 budgeted Beginning Working Capital in compliance with the audited FY13 actual revenues and expenditures as determined by Isler & Company, LLC, the City's external auditor. b) Capital Carryover Reconciliation: Decrease the capital carryover by $5,589, and decrease Balance Available by the same amount. This action reconciles the FY14 Capital Carryover Estimate to the actual ending FY13 capital projects balance.