HomeMy WebLinkAboutItem B: Financial Strategy
ECC
UGENE ITY OUNCIL
AIS
GENDA TEM UMMARY
Work Session: Financial Strategy
Meeting Date: November 14, 2012 Agenda Item Number: B
Department: Central Services Staff Contact: Sue Cutsogeorge
www.eugene-or.gov Contact Telephone Number: 541-682-5589
ISSUE STATEMENT
This work session is an opportunity for the council to receive an update from the City Manager on
the FY14 budget process.
BACKGROUND
For the past several years, the City has worked to close a persistent structural gap in the budget.
Despite a number of years of hard work and decisions to live within our means, the lingering
impacts of the recession and costs that continue to increase have resulted in a mismatch between
our revenues and expenses. During the FY13 budget process, the City Manager developed a two-
year plan to achieve a stable budget. The FY13 Adopted Budget made progress towards that
stable budget plan, but it was clear that there was more to be done in FY14.
The start of the FY14 budget process will include an update on the City’s General Fund condition,
after incorporating new information about property tax growth, inflation and other key factors
that affect the General Fund financial condition. The forecast is currently anticipated to be
presented to the council on November 26. At this council work session, the City Manager will give
an update on the process for council decisions around financial strategy for the FY14 budget and
beyond.
RELATED CITY POLICIES
Council Goal of Fair, Stable and Adequate Funding.
COUNCIL OPTIONS
None. Information only.
CITY MANAGER’S RECOMMENDATION
None. Information only.
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SUGGESTED MOTION
None. Information only.
ATTACHMENTS
None.
FOR MORE INFORMATION
Staff Contact: Sue Cutsogeorge
Telephone: 541-682-5589
Staff E-Mail: Sue.L.Cutsogeorge@ci.eugene.or.us
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