Item 4: URA Resolution Adopting FY12 Proposed Budget

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EURA UGENE RBAN ENEWAL GENCY AIS GENDA TEM UMMARY Public Hearing: 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 Certified for the Fiscal Year Beginning July 1, 2011 and Ending June 30, 2012 Meeting Date: June 20, 2011 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. Oregon Local Budget Law requires the Urban Renewal Agency of the City of Eugene to conduct a public hearing to receive testimony on the FY12 Urban Renewal Agency Annual Budget as approved by the Budget Committee on May 18, 2011. 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. ORS 294.305 and ORS 294.565 require the Urban Renewal Agency Board to pass a resolution adopting the budget, making appropriations, determining, levying and categorizing the annual ad valorem property taxes. The Agency Board is scheduled to take final action on the FY12 budget on June 27, 2011. BACKGROUND Financial and/or Resource Considerations Financial and/or resources considerations are detailed in the FY12 Proposed Budget document. Budget Committee Recommendation Budget Committee review consisted of five work sessions and one public hearing. Public comment was received at three work sessions. A public hearing on the budget proposal was conducted on May 17, 2011. The Budget Committee recommendation consists of the Agency Director’s Proposed Budget for FY12 amended to include appropriations for prior year encumbrances and prior year capital projects. The Budget Committee recommendation, approved on May 18, 2011, is as follows: Ms. Syrett moved that the Budget Committee recommend to the Eugene City Council, acting as the Urban Renewal Agency Board of Directors, the FY12 Budget for the Eugene Urban Renewal Agency that consists of the Agency Director’s FY12 Proposed Budget, including the property tax levies and/or rates contained therein, amended to reflect appropriations for prior year encumbrances and prior year capital projects. Attachment A reconciles the proposed budget to the Budget Committee approved budget. Timing Under the state statute, the FY12 budget must be approved prior to July 1, 2011, and a copy of the adopting resolution filed with the County Assessor by July 31, 2011. \\Cesrv500\cc support\CMO\2011 Council Agendas\M110620\S1106204.doc