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Cultural Services for Fiscal Year 2003 -2004. Table 7 -9 shows the total costs for <br />Parks, Recreation and Cultural Services. , <br />Table 7 -9. Total Costs for Parks, Recreation and Cultural <br />Services Divisions Operating and Cap ital <br />Calculated <br />FY20034004 Portion <br />Covered by <br />Expenditures ($) Property <br />Taxes <br />Calculated Parks, Recreation and Cultural <br />Services O &M Costs 11,071,431 $1.03 <br />Youth and School Services Local Option Levy 434,609 $0.06 <br />Capital Principal + Interest paid 1,562,102 $0.17 <br />Total Costs 13,068,142 $1.26 <br />Source: City of Eugene Annual Budget — Fiscal Year 2004. <br />For a property with an assessed value of $115,000 (the approximate average assessed <br />value within River Road /Santa Clara), an estimated $145 per year of property taxes <br />would pay for parks, recreation and cultural services operation, maintenance and <br />capital costs. <br />Based on estimated total assessed value in Eugene we calculated that the City of <br />Eugene expends the equivalent of $2.11 ($1.88 for O&M plus $0.06 under the Local <br />Option Levy plus $0.17 for debt) per $1,000 in assessed value for General Fund local <br />levy parks, recreation and cultural services O&M costs and capital costs. <br />RIVER ROAD PARK AND RECREATION DISTRICT <br />The RRPRD's Fiscal Year 2003 -2004 budget is $3 million for recreation and parks <br />operations and capital projects including operating costs, overhead and <br />administrative costs and debt service for capital expenditures. <br />RRPRD REVENUES <br />The RRPRD supports its O&M expenditures with property taxes and with users' <br />fees. The RRPRD's permanent rate property tax is $3.0559 per $1,000 in assessed <br />value and its bond rate is $0.4216 per $1,000 in assessed value. Table 7 -10 outlines <br />property taxes due and budgeted for FY03 -04. Total property taxes budgeted is less <br />than those due because the RRPRD assumes some taxes will be delinquent. Similarly, <br />the total reflects delinquent taxes from previous years to be collected in the current <br />year. <br />Page 7 -14 ECONorthwest October 2004 RR/SC Fiscal Analysis: Parks <br />