TO: Urban Renewal Agency Board
THROUGH: Krishna Namburi, Interim Executive Director
FROM: Josh Eggleston, Chief Financial Officer
SUBJECT:
title
Public hearing on the FY 2026 Salem Urban Renewal Agency Budget
Ward(s): All Wards
Councilor(s): All Board Members
Neighborhood(s): All Neighborhoods
Result Area(s): Good Governance; Natural Environment Stewardship; Safe and Healthy Community; Safe, Reliable and Efficient Infrastructure; Strong and Diverse Economy; Welcoming and Livable Community.
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SUMMARY:
summary
The Urban Renewal Agency Budget Committee recommended a budget to the Urban Renewal Agency Board (Board) on May 7, 2025, and amended their recommendation on May 28, 2025. The Board is required to hold a public hearing on the recommended budget and adopt a final budget prior to July 1, 2025. The Board may amend the Urban Renewal Agency Budget Committee’s recommendation within the following parameters:
• Property tax levies cannot be increased in total beyond the amount approved by the Urban Renewal Agency Budget Committee.
• The recommended expenditures for each fund cannot be increased by more than ten percent (10%).
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ISSUE:
Shall the Urban Renewal Agency Board direct staff to return on June 23, 2025, with a resolution to adopt the Budget Committee recommended FY 2026 Urban Renewal Agency Budget with amendments?
RECOMMENDATION:
recommendation
Direct staff to return on June 23, 2025, with a resolution to adopt the Budget Committee recommended FY 2026 Urban Renewal Agency Budget with amendments.
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FACTS AND FINDINGS:
Public Hearing
Pursuant to Oregon Local Budget Law, the public hearing on the Budget Committee recommended budget was noticed in the Salem Reporter on May 30, 2025. At this meeting, any person may provide testimony for or against any item in the recommended budget (ORS 294.453).
A fund-level summary of the City of Salem Budget Committee’s recommended budget is attached to this report. Specific details are available in the budget document and supporting materials.
Budget Deliberation and Recommendation
The Board can deliberate on the recommended budget including on any changes the Board may want to make within the previously mentioned limitations. Decisions about changes to the budget should be made on June 9, 2025, to provide sufficient time to prepare the budget resolution for adoption on June 23, 2025. In addition to any changes approved by the Board on June 9, 2025, the resolution will include rebudgeted purchase orders and carryover items. A detailed list of these items will be provided on June 23, 2025.
BACKGROUND:
Oregon Budget Law requires the adoption of a balanced budget prior to the beginning of each new fiscal year, which for the City of Salem, is July 1st.
Kali Leinenbach
Budget Manager
Attachments:
1. Recommended FY 2026 Salem Urban Renewal Agency Budget