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HomeMy WebLinkAboutItem 5: URA - PH and Adoption of FY07 Budget EURA UGENE RBAN ENEWAL GENCY AIS GENDA TEM UMMARY Public Hearing and Action: Resolution 1039 of the Urban Renewal Agency of the City of Eugene Adopting the Budget, Making Appropriations, and Declaring the Amount of Tax to be Certified for the Fiscal Year Beginning July 1, 2006, and Ending June 30, 2007 Meeting Date: June 12, 2006 Agenda Item Number: 5 Department: Central Services Staff Contact: Kitty Murdoch www.eugene-or.gov Contact Telephone Number: 682-5860 ISSUE STATEMENT Oregon Local Budget Law requires the Urban Renewal Agency of the City of Eugene to conduct a public hearing to receive testimony on the FY07 Urban Renewal Agency Annual Budget as recommended by the Budget Committee on May 17, 2006. Following the hearing, the governing body of the Urban Renewal Agency may deliberate and approve a resolution adopting the budget of the Urban Renewal Agency of the City of Eugene and make appropriations for the Fiscal Year beginning July 1, 2006, and ending June 30, 2007. BACKGROUND On May 17, 2006, the Budget Committee recommended that the City Council, acting as the Eugene Urban Renewal Agency Board, adopt a FY07 Budget for the Eugene Urban Renewal Agency that consists of the City Manager’s FY07 Proposed Budget amended to reflect funding for prior year capital projects, and a $300,000 increase to the Downtown District’s capital budget for physical improvements to the Farmer’s Market. Policy Issues ORS 294.435 provides that after the public hearing “has been held, the governing body shall enact the proper ordinances or resolutions to adopt the budget, to make the appropriations, to determine, make and declare the ad valorem property tax amount or rate to be certified to the assessor for either the ensuing year or each of the years of the ensuing budget period and to itemize and categorize the ad valorem property tax amount or rate as provided in ORS 310.060.” Council Goals The budget supports department work plans designed to meet City Council Goals and Priorities. Financial and/or Resource Considerations Financial and/or resources considerations are detailed in the FY07 Proposed Budget Document and Budget Committee Motions. A summary of the Budget Committee actions is provided in Attachment A. L:\CMO\2006 Council Agendas\M060612\S0606125.doc Budget Committee Recommendation Budget Committee review consisted of six work sessions and one public hearing on the City of Eugene and the Urban Renewal Agency budgets. Public comment was received at all but the last work session. The public hearing on the budget proposal was conducted on May 15, 2006. The Budget Committee recommendation, approved on May 17, 2006, is as follows: Mr. Demboski, seconded by Mr. Poling, moved that the Budget Committee recommend to the Eugene City Council, acting as the Urban Renewal Agency Board of Directors, a fiscal year 2007 budget for the Eugene Urban Renewal Agency that consists of the City Manager’s proposed fiscal year 2007 budget, including the property tax levies and/or rates contained therein, amended to reflect appropriations for prior year encumbrances and prior year capital projects, and the amendments to the manager’s proposed fiscal year 2007 budget which have been adopted by the Budget Committee. The motion passed unanimously. One amendment was adopted by the Budget Committee: a $300,000 increase to the URA Downtown Capital Projects Fund’s Capital Budget for Farmer’s Market improvements. The improvements are funded by a $300,000 transfer from the URA Downtown Debt Service Fund and a reduction to Balance Available in the debt service fund. Under the State Statute, a budget must be approved prior to July 1, 2006, and a copy of the adopting resolution filed with the County Assessor by July 31, 2006. The FY07 Proposed Budget document, Budget Committee packets, information distributed at Budget Committee meetings, and Budget Committee motions are available on the City’s website. COUNCIL OPTIONS According to ORS 294.435, the Urban Renewal Agency’s governing body is limited to increasing expenditures in a fund by no more than $5,000 or 10 percent, whichever is greater, of the Budget Committee approved total in each or any fund. If a larger expenditure increase is desired, republishing the budget and conducting a second public hearing is required. The Agency Board of Directors may reduce revenues, move allocations within a fund and 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 a director makes a motion 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 recommends adoption of the FY07 Urban Renewal Agency Budget as recommended by the Budget Committee. L:\CMO\2006 Council Agendas\M060612\S0606125.doc SUGGESTED MOTION Move to adopt Resolution 1039 of the Urban Renewal Agency of the City of Eugene adopting the Budget, making appropriations, and declaring the amount of tax to be certified for the Fiscal Year beginning July 1, 2006 and ending June 30, 2007. ATTACHMENTS A. Summary of Budget Committee Changes to the Executive Budget Recommendation B. Resolution Adopting the FY07 Urban Renewal Agency Budget FOR MORE INFORMATION Staff Contact: Kitty Murdoch Telephone: 682-5860 Staff E-Mail: kitty.m.murdoch@ci.eugene.or.us L:\CMO\2006 Council Agendas\M060612\S0606125.doc s::: 0 .- ..... ca "C s::: Q) E E 0 (J Q) Q: ..... Q) "C ::s m Q) > .- ..... ::s (J Q) >< w ...... 0 > LL Q) .s::: ..... 0 ..... en Q) s::: ca .s::: (.) >- CJ .... C 0 CI) O'l < i\i ca ~ E ; E~ ::s~ (1):5 C l- N "'It 0 CD ~ N It) 0 00 CD W C") CD 0 0) N C") ...... ON It) ..... I- W OOCDO "'It C'?ooooO~ ~ 0 D. Cl ai'M'o M' o ai' CD~ 0 N ai' >- 0 C en ...... 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Gl <..> co en 't:J ::l lD I I 0 C) 0 0 0 C) C) I III I C) I U C I oQ C)~ I III I I ~ 13 C) v 0:( C) CO? 't:J 0 C) 00 m en en Gl - 0 C) m en .... "'" III Gl 0 q LO I.I)~ ~ 0 0 en 0 C) ..... .... .... > C. 't:J ::s 0 C) N N '''It LL 0 lD '<:I" '''It ..... ... 0- M .... (/) Q) " .... r::: :J :t:: " :;, "0 r::: LL e :;, l! Q) LL 0. CJ X Q) ,!l! w CJ 0 (ij Q) '~ ... a. - :0 (/) e Q) Ii t5 Q) ~ - U) Q) E Om l- e ... W Gl ... 'g oe- e > E .c .... <( C) Q) Q) CIS a.. Q) c 1:: C 0 > Q) IV ... ~ ... ro 0 () ::J c. Q) - Ole m Gl r::: r::: 00. .... m 0 (/) 0 Q)- 0 ... Q) ... m - m ~ - 't: a:: 't: U .Em 't:J Q) J! Q) CIS ::J e > > ... ::s Ci: ..... 0 Ci: ..... N M 0 ...J LL l- I- e:( I- u.i tL 0 .!::. ATTACHMENT B RESOLUTION NO. A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF EUGENE ADOPTING THE BUDGET, MAKING APPROPRIATIONS, AND DECLARING THE AMOUNT OF TAX TO BE RECEIVED FOR THE FISCAL YEAR BEGINNING JULY 1,2006 AND ENDING JUNE 30, 2007. The Urban Renewal Agency of the City of Eugene finds that adopting the budget and making appropriations is necessary under ORS 294.305 to ORS 294.565. NOW, THEREFORE, BE IT RESOLVED by the Urban Renewal Agency ofthe City of Eugene, as follows: Section 1. The budget for the Urban Renewal Agency of the City of Eugene for the Fiscal Year beginning July 1,2006 set forth in attached Exhibit "A" is hereby adopted. Section 2. The amounts for the Fiscal Year beginning July 1, 2006 and for the purposes shown in the attached Exhibit "A" are hereby appropriated. Section 3. That the following be certified to the County Assessor of Lane County, Oregon: The Downtown Plan Area is an Option One plan that shall receive the maximum amount of revenue that may be raised by dividing the taxes under section Ie, Article IX, ofthe Oregon Constitution, and the remainder of authority shall be raised through the imposition of a special levy at 100% of the maximum amount. The Riverfront Plan Area shall receive the maximum amount of revenue that may be raised by dividing the taxes under section Ie, Article IX, ofthe Oregon Constitution. This plan shall be certified under the "Window Plan" section of the certification form. Section 4. That the City Recorder is hereby requested to certify the levies as herein made and set forth to the County Assessor of Lane County, Oregon, and shall file with the County Assessor a copy of the budget as finally adopted, and such other documents as required by ORS 294.555(3). Section 5. The list of fund numbers and fund titles set forth in attached Exhibit "B" is hereby adopted, and any fund numbers or fund titles in conflict herewith are hereby repealed. The foregoing Resolution adopted this 12th day of June, 2006. Director EXHIBIT A Urban Renewal Agency Downtown General Fund Department Operating Planning and Development Total Department Operating in 299,832 299,832 Non-Departmental Miscellaneous Fiscal Transactions Balance Available Total Non-Departmental 2,073,664 50,000 2,123,664 Total Downtown General Fund 2,423,496 Downtown Debt Service Fund Total Capital Projects 770,321 Non-Departmental Interfund Transfers Intergovernmental Expenditures Reserve Balance Available Total Non-Departmental 599,832 2,406,875 2,500,000 4,132,128 9,638,835 Total Downtown Debt Service Fund 10,409,156 Downtown Caoital Proiects Fund Total Capital Projects 300,000 300,000 Total Downtown Capital Projects Fund Riverfront General Fund Department Operating Planning and Development Total Department Operating 261,316 261,316 Non-Departmental Interfund Transfers Intergovernmental Expenditures Balance Available Total Non-Departmental 320,000 12,500 63,773 396,273 Total Riverfront General Fund 657,589 Riverfront Debt Service Fund Non-Departmental Reserve Total Non-Departmental 400,000 400,000 Total Riverfront Debt Service Fund 400,000 EXHIBIT A Urban Renewal Agency Riverfront Caoital Proiects Fund Total Capital Projects ill 42,400 Non-Departmental Balance Available Total Non-Departmental 21,599 21,599 Total Riverfront Capital Projects Fund 63,999 Total Resolution 14,254,240 ReDortina Fund* 817 812 813 821 822 823 Exhibit B Urban Renewal Agency Manaaina Fund 817 812 813 821 822 823 Fund Titles Downtown General Fund Downtown Debt Service Fund Downtown Capital Projects Fund Riverfront General Fund Riverfront Debt Service Fund Riverfront Capital Projects Fund *Urban Renewal Agency appropriates and reports to these combined funds.