HomeMy WebLinkAboutItem 4: URA Resolution Adopting FY12 Proposed Budget
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.
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Other Background Information
The FY12 Proposed Budget document, Budget Committee packets, information distributed at Budget
Committee meetings, and Budget Committee motions are available on the City’s website at:
www.eugene-or.gov/budget.
RELATED CITY POLICIES
Council Goals
The budget supports department work plans designed to further Council Goals and Priorities.
Financial Management Goals and Policies
The budget was prepared following guidelines established in the Financial Management Goals and
Policies.
AGENCY BOARD 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 members of the Urban Renewal Agency Board wish 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.
AGENCY DIRECTOR’S RECOMMENDATION
The Agency Director recommends adoption of the FY12 Urban Renewal Agency Budget as approved by
the Budget Committee.
SUGGESTED MOTION
No motions are needed at this public hearing. The motion to be considered by the council at the June
27, 2011, meeting to adopt the budget is:
Move to approve a resolution of the Urban Renewal Agency of the City of Eugene adopting the budget
and making appropriations for the fiscal year beginning July 1, 2011, and ending June 30, 2012.
ATTACHMENTS
A. Summary of Changes to the FY12 Proposed Budget
B. Resolution Adopting the FY12 Urban Renewal Agency Budget
- Exhibit A - Fund Schedules
- Exhibit B - Fund Names
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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
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Attachment A
Summary of Changes to the FY12 Proposed Budget
Urban Renewal Agency
URA Board
FY12<--------------- Budget Committee Actions --------------->FY12
ProposedMisc.EncumbrancesCapitalBudget Comm.ActionAdopted
Fund / DepartmentBudgetActionsReserve/CarryoverCarryoverRecommend.Budget
A.Downtown General Fund
Planning and Development355,000 355,000355,000
Miscellaneous Fiscal Transactions1,740,000 1,740,0001,740,000
Balance Available60,000 60,00060,000
Total2,155,000 - - - 2,155,000 - 2,155,000
B.Downtown Debt Service Fund
Debt Service370,000 370,000370,000
Interfund Transfers355,000 355,000355,000
Intergovernmental Expenditures760,000 760,000760,000
Reserve1,000,000 1,000,0001,000,000
Balance Available349,554 349,554349,554
Total2,834,554 - - - 2,834,554 - 2,834,554
C.Downtown Capital Projects Fund
Capital Projects- 734,593734,593 734,593
Balance Available7,625 7,6257,625
Total7,625 - - 734,593 742,218 - 742,218
D.Riverfront General Fund
Planning and Development249,144 249,144249,144
Balance Available4,815,842 4,815,8424,815,842
Total5,064,986 - - - 5,064,986 - 5,064,986
E.Riverfront Capital Projects Fund
Capital Projects- 141,500141,500 141,500
Balance Available23,015 23,01523,015
Total23,015 - - 141,500 164,515 - 164,515
TOTAL URBAN RENEWAL AGENCY BUDGET10,085,180 - - 876,093 10,961,273 - 10,961,273
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, 2011 AND ENDING JUNE 30, 2012.
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, 2011 and ending June 30, 2012, set forth in attached Exhibit "A" is hereby
adopted.
Section 2. The amounts for the Fiscal Year beginning July 1, 2011 and ending June 30, 2012, 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.
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 Section 3: Other Standard Rate Plans.
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 27th day of June, 2011.
Director
EXHIBIT
A
Urban Renewal Agency
Downtown General Fund$$$
Department Operating
Planning and Development355,000
Total Department Operating
355,000
Non-Departmental
Miscellaneous Fiscal Transactions1,740,000
Balance Available60,000
Total Non-Departmental
1,800,000
Total Downtown General Fund2,155,000
Downtown Debt Service Fund
Non-Departmental
Debt Service370,000
Interfund Transfers355,000
Intergovernmental Expenditures760,000
Reserve1,000,000
Balance Available349,554
Total Non-Departmental
2,834,554
Total Downtown Debt Service Fund2,834,554
Downtown Capital Projects Fund
Total Capital Projects
734,593
Non-Departmental
Balance Available7,625
Total Non-Departmental
7,625
Total Downtown Capital Projects Fund742,218
Riverfront General Fund
Department Operating
Planning and Development249,144
Total Department Operating
249,144
Non-Departmental
Balance Available4,815,842
Total Non-Departmental
4,815,842
Total Riverfront General Fund5,064,986
Riverfront Capital Projects Fund
Total Capital Projects
141,500
Non-Departmental
Balance Available23,015
Total Non-Departmental
23,015
Total Riverfront Capital Projects Fund164,515
Total Resolution10,961,273
Exhibit B
Urban Renewal Agency
Reporting FundManaging FundFund Titles
817817Downtown General Fund
812812Downtown Debt Service Fund
813813Downtown Capital Projects Fund
821821Riverfront General Fund
823823Riverfront Capital Projects Fund