Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Eugene budget committee reviews updated six‑year forecast, rolls forward $10.8M and proposes $8M PERS payment
Summary
City staff told the Eugene Budget Committee that updated revenue assumptions cut projected property‑tax receipts and that the December supplemental budget would roll forward $10.8 million, fund housing and shelter priorities, and include an $8 million PERS Employer Incentive Fund contribution that staff say will lower future PERS rates with a $2 million state match.
City of Eugene finance staff on Dec. 3 presented an updated six‑year general‑fund forecast and a December supplemental budget that rolls forward $10.8 million in resources and recommends several one‑time investments, city officials said.
Maurizio Badalico, senior financial analyst, said the forecast reflects lower property‑tax growth, a reduced EWEB contribution in lieu of taxes (SILT) forecast, declining local marijuana tax receipts and lower expected investment income because of smaller reserve balances. "We've actually lowered the property tax revenue forecast," he said, adding the net effect is a $4,300,000 reduction in property‑tax revenue over the six‑year forecast compared with the adopted budget.
The supplemental budget recognizes $5.5 million flowing into the general fund from the close of the prior biennium, $2.4 million in actual…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
