TO: Urban Renewal Agency Board
THROUGH: Steve Powers, Executive Director
FROM: Kacey Duncan, Deputy City Manager
SUBJECT:
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Public hearing on the FY 2019 Salem Urban Renewal Agency Budget.
Ward(s): All Wards
Board Member(s): All Members
Neighborhood(s): All Neighborhoods
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ISSUE:
Shall the Urban Renewal Agency Board hold a public hearing on the FY 2019 Budget Committee recommended budget and direct staff to return on June 25, 2018, with a resolution to adopt the FY 2019 Urban Renewal Agency budget?
RECOMMENDATION:
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The Urban Renewal Agency Board hold a public hearing on the FY 2019 Budget Committee recommended budget and direct staff to return on June 25, 2018, with a resolution to adopt the FY 2019 Urban Renewal Agency budget.
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SUMMARY AND BACKGROUND:
The Urban Renewal Agency Budget Committee recommended a budget to the Urban Renewal Agency Board (Board) on May 2, 2018. The Board is required to hold a public hearing on the recom-mended budget and adopt a final budget prior to July 1, 2018. The Board may amend the Urban Renewal Agency Budget Committee's recommended budget with the follow-ing restrictions:
• 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%).
FACTS AND FINDINGS:
Public Hearing
Pursuant to Oregon Local Budget Law, the public hearing on the Urban Renewal Agency Budget Committee recommended budget was noticed in the Statesman Journal on May 31, 2018. At the meeting any person may appear for or against any item in the recommended budget document (ORS 294.453).
A summary of the Salem Urban Renewal Agency Budget Commit-tee’s recommended budget appears as Attachment 1 of this report. Specific details are available in the budget document and supporting materials.
Budget Deliberation and Recommendation
The Urban Renewal Agency Board can deliberate on the recommended budget as well as on any changes that the Board may want to make. The Board is asked to approve any changes made during the June 11, 2018 meeting so the necessary budget resolution can be prepared for the June 25, 2018 meeting. The budget resolution may also include some additional amendments that will be presented at the June 25 meeting.
Additional amendments may include rebudgeted purchase orders and car-ryover projects. Accounting regulations require the City to rebudget outstan-ding purchase orders and carryover projects prior to June 30, 2018. A detailed list of such items will be provided to the Board at the June 25, 2018 meeting.
Attachments:
1. Urban Renewal Agency Budget Committee Recommended FY 2019 Budget