HomeMy WebLinkAboutItem 4: PH on Supplemental Budget 2
ECC
UGENE ITY OUNCIL
AIS
GENDA TEM UMMARY
Public Hearing: Resolution 4861 Adopting a Supplemental Budget; Making
Appropriations for the City of Eugene for the Fiscal Year Beginning July 1, 2005 and
Ending June 30, 2006
Meeting Date: March 13, 2006 Agenda Item Number: 4
Department: Central Services Staff Contact: Kitty Murdoch
www.eugene-or.gov Contact Telephone Number: 682-5860
ISSUE STATEMENT
This is the second Supplemental Budget for FY06. Oregon Local Budget Law (ORS294.480) allows for
supplemental budgets for “an occurrence…which had not been ascertained at the time of the preparation
of a budget for the current year…” Supplemental Budget #2 carries out recent City Council direction on
the City Hall Complex Action Plan and also provides appropriation for the City’s participation in the
redevelopment of property at East Broadway and 8th Avenue as discussed in three recent City Council
work sessions.
BACKGROUND
On December 14, 2005, the City Council directed the City Manager to proceed with Phase 2, the
Development Plan Phase, of the City Hall Complex Action Plan for $1,135,000. During this phase
public input will be sought, remaining issues from Phase 1 will be resolved, and technical work will be
conducted to complete the development plan. This supplemental budget establishes capital budget
authority by using $1,135,000 from the Facility Reserve to carry out this work.
The supplemental budget for the East Broadway Parking Garage contains most of the funding for the
project, as described to the council at meetings on February 8, February 13 and February 22. The
project will be paid for out of the parking funds. The funding sources for the 260-space garage project
are detailed in the chart below. The Stormwater Fund portion of the project will be included in the
FY07 budget, along with $320,000 of Urban Renewal Agency funding which is not available until next
year.
East Broadway Garage Project Costs
Payment to Developer $6,700,000
Other City Costs (utilities, 1% for Art, etc.) 935,000
Total Project Costs $7,635,000
Debt Service Reserve Fund $400,000
Total Funding Need $8,035,000
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East Broadway Garage Funding Sources
Urban Renewal Contribution
-Urban Renewal Revenue Bonds $4,000,000
-Riparian Area Funds 400,000
-Cash in FY06 & FY07 1,110,000
Total Urban Renewal 5,510,000
City Contribution
-Stormwater Funds FY07 250,000
-Library Debt Service Fund 475,000
-Facility Reserve 1,800,000
Total City 2,525,000
Total Funding Sources $8,035,000
RELATED CITY POLICIES
One of the council’s seven priority issues is to “Conclude Discussion on the City Hall Complex.” This
supplemental budget provides the budget authority to make significant progress on the priority issue.
These transactions conform to the City’s Financial Management Goals and Policies.
COUNCIL OPTIONS
The council may direct staff to alter the attached recommended resolution for the March 15, 2006, work
session for amended appropriation amounts or funding sources.
CITY MANAGER’S RECOMMENDATION
This is a public hearing and discussion item. Action on the Supplemental Budget Resolution will occur
on Wednesday, March 15.
SUGGESTED MOTION
A motion to approve the Supplemental Budget Resolution will be considered on March 15, 2006.
ATTACHMENTS
A. Transaction Summary
B. Resolution
FOR MORE INFORMATION
Staff Contact: Kitty Murdoch
Telephone: 682-5860
Staff E-Mail: kitty.m.murdoch@ci.eugene.or.us
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ATTACHMENT A
221 Library Bond Debt Service Fund
FY06 FY06 FY06 FY06
Adopted SB1 Action SB2 Action Revised
I. RESOURCES
BEGINNING WORKING CAPITAL 514,766 1,542 0 516,308
CHANGE TO WORKING CAPITAL
REVENUE
Intergovernmental 2,353,125 0 0 2,353,125
Miscellaneous 13,000 0 0 13,000
Total Revenue 2,366,125 0 0 2,366,125
TOTAL RESOURCES 2,880,891 1,542 0 2,882,433
II. REQUIREMENTS
Department Operating
Total Department Operating 0 0 0 0
Capital Projects
Total Capital Projects 0 0 0 0
Non-Departmental
Debt Service 2,353,125 0 0 2,353,125
Interfund Transfers 0 0 475,000 a. 475,000
Reserve 527,766 1,542 (475,000) a. 54,308
Total Non-Departmental 2,880,891 1,542 0 2,882,433
TOTAL REQUIREMENTS 2,880,891 1,542 0 2,882,433
221 Library Bond Debt Service Fund
a. This transaction reduces the Library Debt Service Reserve by $475,000 and transfers the resources to the East
Broadway Parking Garage Fund to support the construction of the garage.
310 General and Road Capital Projects Fund
a. This transaction recognizes a $67,000 transfer from the East Broadway Garage Parking
Fund to the Public Art Capital Fund and appropriates it for public art purposes in the garage
project.
This transaction moves $1,135,000 from the Facility Reserve and increases Capital
b. appropriation for completion of Phase 2, the Development Plan Phase, of the City Hall
Complex Action Plan.
520 Parking Services Fund
FY06 FY06 FY06 FY06
Adopted SB1 Action SB2 Action Revised
I. RESOURCES
BEGINNING WORKING CAPITAL 2,784,267 (77,073) 0 2,707,194
CHANGE TO WORKING CAPITAL
REVENUE
Intergovernmental 0 0 5,035,000 a. 5,035,000
Rental 516,060 0 0 516,060
Charges for Services 2,926,261 0 0 2,926,261
Fines/Forfeitures 1,028,184 0 0 1,028,184
Miscellaneous 40,797 0 0 40,797
Interfund Transfers 0 0 2,275,000 b. 2,275,000
Total Revenue 4,511,302 0 7,310,000 11,821,302
TOTAL RESOURCES 7,295,569 (77,073) 7,310,000 14,528,496
II. REQUIREMENTS
Department Operating
Central Services 438,482 0 0 438,482
Planning and Development 2,639,692 0 0 2,639,692
Public Works 107,090 0 0 107,090
Total Department Operating 3,185,264 0 0 3,185,264
Capital Projects
Capital Projects 375,000 0 7,243,000 c. 7,618,000
Capital Carryover 491,259 138,951 0 630,210
Total Capital Projects 866,259 138,951 7,243,000 8,248,210
Non-Departmental
Debt Service 641,298 0 0 641,298
Interfund Transfers 827,100 0 67,000 d. 894,100
Reserve 742,162 10,278 0 752,440
Balance Available 1,033,486 (226,302) 0 807,184
Total Non-Departmental 3,244,046 (216,024) 67,000 3,095,022
TOTAL REQUIREMENTS 7,295,569 (77,073) 7,310,000 14,528,496
520 Parking Services Fund
a. The $5,035,000 is the amount received from the Urban Renewal Agency funds in support of the East
Broadway Garage project.
b. The $2,275,000 is comprised of transfers of $1 ,800,000 from the Facilities Replacement Fund
Reserve and $475,000 from the Library Bond Debt Service Fund in support of the East Broadway
c. Capital appropriation of $7,243,000 for the East Broadway Garage project.
d. Transfer to the Public Art Capital Fund for public art in the East Broadway Garage project.
ATTACHMENT B
Resolution Number 4861
A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET;
MAKING APPROPRIATIONS FOR THE CITY OF EUGENE
FOR THE FISCAL YEAR BEGINNING JUL YI, 2005,
AND ENDING JUNE 30, 2006.
The City Council of the City of Eugene finds that Adopting the Supplemental Budget and
Making Appropriations is necessary under ORS 294.480.
NOW THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, A
Municipal Corporation of the State of Oregon, as follows:
Section 1.
That the Supplemental Budget for the City of Eugene, Oregon, for the fiscal year
beginning July 1, 2005, and ending June 30, 2006, as set forth in attached Exhibit
"A" is hereby adopted.
Section 2.
The Supplemental amounts for the fiscal year beginning July 1, 2005, and ending
June 30, 2006, and for the purposes shown in attached Exhibit "A" are hereby
appropriated.
Section 3.
That this Supplemental Budget is prepared in accordance with ORS
294.480(1)(a), 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 294.480(4).
Section 4.
This resolution complies with ORS 294.480(5), 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 15th day of March, 2006.
City Recorder
EXHIBIT "A"
In dollars
LIBRARY BONDS DEBT SERVICE FUND
Non-Departmental
Interfund Transfer
* Reserves
Total Non-Departmental
TOTAL LIBRARY BONDS DEBT SERVICE FUND
475,000
(475,000)
o
o
GENERAL AND ROAD CAPITAL PROJECTS FUND
Capital Projects
Capital Projects
Total Capital Projects
Non-Departmental
* Reserves
Total Non-Departmental
TOTAL GENERAL AND ROAD CAPITAL PROJECTS FUN[
PARKING SERVICES FUND
Capital Projects
Capital Projects
Total Capital Projects
Non-Departmental
Interfund Transfer
Total Non-Departmental
TOTAL PARKING SERVICES FUND
TOTAL REQUIREMENTS - ALL FUNDS
* Reserve amounts are not appropriated for spending and are
shown for information purposes only.
1,202,000
1,202,000
(1,135,000)
(1,135,000)
67,000
7,243,000
7,243,000
67,000
67,000
7,310,000
7,377 ,000