HomeMy WebLinkAboutItem 3: URA - Resolution Adopting FY08 Budget
EURA
UGENE RBAN ENEWAL GENCY
AIS
GENDA TEM UMMARY
Public Hearing and Action: Resolution 1043 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, 2007, and Ending June 30, 2008
Meeting Date: June 11, 2007 Agenda Item Number: 3
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 FY08 Urban Renewal Agency Annual Budget as
recommended by the Budget Committee on May 16, 2007. 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,
2007, and ending June 30, 2008.
BACKGROUND
On May 16, 2007, the Budget Committee recommended that the City Council, acting as the Eugene
Urban Renewal Agency Board, adopt a FY08 Budget for the Eugene Urban Renewal Agency that
consists of the City Manager’s FY08 Proposed Budget.
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 FY08 Proposed Budget Document and
Budget Committee Motions. A summary of the Budget Committee actions is provided in Attachment A.
Budget Committee Recommendation
Budget Committee review consisted of seven 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, 2007.
The Budget Committee recommendation, approved on May 16, 2007, is as follows:
L:\CMO\2007 Council Agendas\M070611\S0706113.doc
Ms. Rygas, seconded by Mr. Poling, moved that the Budget Committee recommend to the Eugene
City Council, acting as the Urban Renewal Agency Board of Directors, an FY08 budget for the
Eugene Urban Renewal Agency that consists of the City Manager’s proposed FY08 budget,
including the property tax levies and/or rates contained therein, amended to reflect appropriations for
prior year encumbrances and prior year capital projects. The motion passed unanimously.
Timing
Under the State statute, a budget must be approved prior to July 1, 2007, and a copy of the adopting
resolution filed with the County Assessor by July 31, 2007.
Other Background Information
The FY08 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 FY08 Urban Renewal Agency Budget as recommended
by the Budget Committee.
SUGGESTED MOTION
Move to adopt Resolution 1043 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, 2007, and ending June 30, 2008.
ATTACHMENTS
A. Summary of Budget Committee Changes to the Executive Budget Recommendation
B. Resolution Adopting the FY08 Urban Renewal Agency Budget
FOR MORE INFORMATION
Staff Contact: Kitty Murdoch
Telephone: 682-5860
Staff E-Mail: kitty.m.murdoch@ci.eugene.or.us
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Summary of Changes to the FY08 Executive Budget Recommendation
Urban Renewal Agency
FY08<----- Budget Committee Actions ----->
ProposedBudget Comm.
Misc.Capital
Fund / DepartmentBudgetRecommend.
ActionsCarryover
A.Downtown General Fund
1.Planning and Development303,75200303,752
2.Miscellaneous Fiscal Transactions1,972,171001,972,171
3.Balance Available50,0000050,000
Total2,325,923002,325,923
B.Downtown Debt Service Fund
1.Interfund Transfers303,75200303,752
2.Intergovernmental Expenditures2,380,000002,380,000
3.Reserve2,500,000002,500,000
4.Balance Available5,483,502005,483,502
Total10,667,2540010,667,254
C.Downtown Capital Projects Fund
1.Capital Projects00553,688553,688
2.Balance Available7,5007,500
Total7,5000553,688561,188
D.Riverfront General Fund
1.Planning and Development264,12500264,125
2.Balance Available1,746,186001,746,186
Total2,010,311002,010,311
E.Riverfront Debt Service Fund
1.Interfund Transfers160,00000160,000
Total160,00000160,000
F.Riverfront Capital Projects Fund
1.Capital Projects150,000081,642231,642
2.Balance Available1,000001,000
Total151,000081,642232,642
TOTAL URA BUDGET 15,321,9880635,33015,957,318
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, 2007 AND ENDING JUNE 30, 2008.
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 of the City of Eugene, as follows:
Section 1. The budget for the Urban Renewal Agency of the City of Eugene for the Fiscal Year
beginningJuly 1, 2007 set forth in attached Exhibit "A" is hereby adopted.
Section 2. The amounts for the Fiscal Year beginning July 1, 2007 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 1c, Article IX, of the 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 1c, Article IX, of the 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.
th
The foregoing Resolution adopted this 11 day of June, 2007.
Director
EXHIBIT
A
Urban Renewal Agency
Downtown General Fund$$$
Department Operating
Planning and Development303,752
Total Department Operating
303,752
Non-Departmental
Miscellaneous Fiscal Transactions1,972,171
Balance Available50,000
Total Non-Departmental
2,022,171
Total Downtown General Fund2,325,92
3
Downtown Debt Service Fund
Non-Departmental
Interfund Transfers303,752
Intergovernmental Expenditures2,380,000
Reserve2,500,000
Balance Available5,483,502
Total Non-Departmental
10,667,254
Total Downtown Debt Service Fund10,667,25
4
Downtown Capital Projects Fund
Total Capital Projects
553,688
Balance Available7,500
Total Non-Departmental
7,500
Total Downtown Capital Projects Fund561,188
Riverfront General Fund
Department Operating
Planning and Development264,125
Total Department Operating
264,125
Non-Departmental
Balance Available1,746,186
Total Non-Departmental
1,746,186
Total Riverfront General Fund2,010,311
Riverfront Debt Service Fund
Non-Departmental
Interfund Transfers160,000
Total Non-Departmental
160,000
Total Riverfront Debt Service Fund160,000
EXHIBIT
A
Urban Renewal Agency
Riverfront Capital Projects Fund$$$
Total Capital Projects
231,642
Non-Departmental
Balance Available1,000
Total Non-Departmental
1,000
Total Riverfront Capital Projects Fund232,642
Total Resolution15,957,31
8
Exhibit B
Urban Renewal Agency
Reporting FundManaging FundFund Titles
817817Downtown General Fund
812812Downtown Debt Service Fund
813813Downtown Capital Projects Fund
821821Riverfront General Fund
822822Riverfront Debt Service Fund
823823Riverfront Capital Projects Fund