HomeMy WebLinkAboutItem 4: URA Resolution Adopting Supplemental Budget
EURA
UGENE RBAN ENEWAL GENCY
AIS
GENDA TEM UMMARY
Public Hearing: Resolution Adopting a Supplemental Budget; Making Appropriations
for the Urban Renewal Agency for the Fiscal Year Beginning July 1, 2009 and Ending
June 30, 2010
Meeting Date: June 21, 2010 Agenda Item Number: 4
Department: Central Services Staff Contact: Mia Cariaga
www.eugene-or.gov Contact Telephone Number: (541) 682-5408
ISSUE STATEMENT
This meeting is a public hearing with no action required. Urban Renewal Agency Board approval of the
second Supplemental Budget for FY10 is requested. Oregon Local Budget Law (ORS 294.480) 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...”. This Supplemental Budget consists of $100,000 in
proposed changes to the FY10 Budget. A description of the proposed transaction is provided in
Attachment A. This supplemental budget does not authorize any increased property tax levy. The
Agency Board is scheduled to take final action on the supplemental budget on June 28, 2010.
BACKGROUND
Supplemental Budgets recognize new revenue and authorize other unanticipated changes in legal
appropriations during a fiscal year.
RELATED CITY POLICIES
This transaction conforms to the City’s Financial Management Goals and Policies.
AGENCY OPTIONS
Particular requests requiring more information or discussion may be removed from the supplemental
budget and delayed for action in a future supplemental budget in FY11. In certain cases, there may be a
financial or legal impact to delaying budget approval. The Agency Board may also adopt amended
appropriation amounts or funding sources for specific requests in the supplemental budget.
AGENCY DIRECTOR’S RECOMMENDATION
The Agency Director recommends approval of the attached resolution adopting the Supplemental
Budget on June 28, 2010.
Z:\CMO\2010 Council Agendas\M100621\S1006214.doc
SUGGESTED MOTION
No motions are needed at this public hearing. The motion to be considered by council at the June 28
meeting is:
Move to approve a resolution adopting the FY10 June Supplemental Budget; making appropriations for
the Urban Renewal Agency for the Fiscal Year beginning July 1, 2009 and ending June 30, 2010.
ATTACHMENTS
A. Transaction Summary
B. Resolution
FOR MORE INFORMATION
Staff Contact: Mia Cariaga
Telephone: (541) 682-5408
Staff E-Mail: mia.cariaga@ci.eugene.or.us
OR
Staff Contact: Pavel Gubanikhin
Telephone: (541) 682-5512
Staff E-Mail: pavel.e.gubanikhin@ci.eugene.or.us
Z:\CMO\2010 Council Agendas\M100621\S1006214.doc
812 Urban Renewal Agency Downtown Debt Service
Attachment A
FY10FY10FY10FY10
AdoptedSB1 ActionJune SB Revised
Action
I.RESOURCES
BEGINNING WORKING CAPITAL
5,696,50665,28505,761,791
CHANGE TO WORKING CAPITAL
REVENUE
Taxes1,730,000001,730,000
Miscellaneous19,0000019,000
Total Revenue1,749,000001,749,000
TOTAL RESOURCES7,445,50665,28507,510,791
II.REQUIREMENTS
Non-Departmental
Interfund Transfers772,0000100,000872,000
a
Intergovernmental Expend.2,473,750002,473,750
Balance Available4,199,75665,285(100,000)4,165,041
a
Total Non-Departmental7,445,50665,28507,510,791
TOTAL REQUIREMENTS7,445,50665,28507,510,791
812UrbanRenewalAgencyDowntownDebtService
812UrbanRenewalAgencyDowntownDebtService
a)Reduce Balance Available by $100,000 and increase interfund transfer to the URA Downtown Capital
Projects Fund by the same amount.
813 Urban Renewal Agency Downtown Capital Projects Fund
FY10FY10FY10FY10
AdoptedSB1 ActionJune SB Revised
Action
I.RESOURCES
BEGINNING WORKING CAPITAL
186,363(51,770)134,593
CHANGE TO WORKING CAPITAL
REVENUE
Interfund Transfers0100,000100,000
a
Total Revenue00100,000100,000
TOTAL RESOURCES186,363(51,770)100,000234,593
II.REQUIREMENTS
Capital Projects
Capital Projects0100,000100,000
a
Capital Carryover138,153(3,560)134,593
Total Capital Projects138,153(3,560)100,000234,593
Non-Departmental
Balance Available48,210(48,210)0
Total Non-Departmental48,210(48,210)00
TOTAL REQUIREMENTS186,363(51,770)100,000234,593OQS()
813 Urban Renewal Agency Downtown Capital Projects Fund
a)Recognize $100,000 in interfund transfer revenue from the URA Downtown Debt Service Fund, and increase capital
project appropriations by the same amount to fund lighting improvements as part of the Downtown Safety Initiative.
Resolution Number _______ Attachment B
A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET;
MAKING APPROPRIATIONS FOR THE URBAN RENEWAL AGENCY
OF THE CITY OF EUGENE
FOR THE FISCAL YEAR BEGINNING JULY 1, 2009,
AND ENDING JUNE 30, 2010
The Urban Renewal Agency 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 URBAN RENEWAL AGENCY OF THE CITY OF
EUGENE
as follows:
Section 1.
ThattheSupplementalBudgetfortheUrbanRenewalAgencyoftheCityofEugene,
Oregon,forthefiscalyearbeginningJuly1,2009,andendingJune30,2010,asset
forth in attached Exhibit "A" is hereby adopted.
Section 2.
ThesupplementalamountsforthefiscalyearbeginningJuly1,2009,andendingJune
30, 2010, and for the purposes shown in attached Exhibit "A" are hereby appropriated.
Section 3.
ThatthisSupplementalBudgetispreparedinaccordancewithORS294.480(1)(a),
whichauthorizestheformulationofasupplementalbudgetresultingfrom"An
occurrenceorconditionwhichhadnotbeenascertainedatthetimeofthepreparation
ofabudgetforthecurrentyearorcurrentbudgetperiodwhichrequiresachangein
financialplanning."ThisSupplementalBudgetwaspublishedinaccordancewith
ORS 294.480(4).
Section 4.
ThisresolutioncomplieswithORS294.480(5),anddoesnotauthorizeanincreasein
thelevyofpropertytaxesabovetheamountpublishedintheAnnualBudget
publication.
The foregoing resolution adopted this 28th day of June, 2010.
Director
EXHIBIT "A"
In dollars
URBAN RENEWAL AGENCY DOWNTOWN DEBT SERVICE FUND
Non-Departmental
Interfund Transfer100,000
* Balance Available(100,000)
Total Non-Departmental
0
TOTAL URA DOWNTOWN DEBT SERVICE FUND0
URBAN RENEWAL AGENCY DOWNTOWN CAPITAL PROJECTS FUND
Capital Projects
Capital Projects100,000
Total Capital Projects
100,000
TOTAL URA DOWNTOWN CAPITAL PROJECTS FUND100,000
TOTAL REQUIREMENTS - ALL FUNDS100,000
* Reserves and Balance Available amounts are not appropriated for spending
and are shown for information purposes only.