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Last modified
6/3/2014 1:38:52 PM
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PW_Operating
PW_Document_Type_ Operating
Correspondence
PW_Division
Parks and Open Space
Identification_Number
July 23, 2008
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River Road Parks District
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After reviewing the budget, the budget committee needs to approve a dollar amount or the per- <br />manent tax rate. Because we know for sure what our permanent rate Is, the budget committee <br />needs to approve levying the permanent tax rate of $3.0559. Add an estimated $.4085 for bonded <br />debt and you get a grand total of $3.4644. Last year's rate was 13.4781. <br />The proposed 2008 -09 budget totals $3,094,208. The prese t year's budget totals $3,188,368. The <br />proposed 2008 -09 budget is less due to no flex leas com d a large drop In the contingency <br />fund. The budget was prepared on the saute basis ofa n ng that was done during the preced- <br />ing year. <br />The two funds that comprise the 2008 -09 Budget are the General Fund and the Bonded Debt Fund. <br />The bond issue tax payment will be $171,618 Last year it was $172,578. The bond fund tax rate <br />per $1,000 is estimated to be $0.4222. Last year it was $0.4255. The budget committee does not <br />need to examine the Bonded Debt Fund because the figures are based on principal and interest re- <br />quirements and are not subject to change. <br />The General Fund involves the proposed revenues and expenditures. The proposed revenues will <br />be discussed first. <br />The beginning cash carry -over for the present fiscal year was $584,511. 77te estimated ending <br />cash carry -over is $432,328 but I am budgeting $425,000. Me drop of $159,511 cash carry -over <br />from last fiscal year and a drop of $265,210 cash carry -over from two year's ago will create a <br />huge problem by fiscal year 2010 -11 where the p rojected fund balance is 481,183. (See Budget <br />Projections, pages 6 -7 for details) 77te main reasons for the drop Is the loss of tax revenue be- <br />cause of property tax appeals, increase In annexations to the City of Eugene, revenues not keep- <br />ing pace with inflations, and expenditures that we have little control over. (i.e. wages and bene- <br />fits,health insurance, natural gas, electricity, water) The proposed budget includes the same <br />amount as the present fiscal year ($100,000) from the city of Eugene barring any unforeseen ac- <br />tion by the Eugene City Council. We have asked the City of Eugene for an additional $100,000 per <br />year, but that request doesn't appear to be possible unless a joint meeting with the City Council <br />happens and our Board of Directors can change their mind. ,� <br />Aquatic revenues are projected to be $359,200 which is slightly mbe than the current year's esti- <br />mate. An increase In pool admission fees and passes in the fall and and tighter security on swim <br />passes as well as River Rod Swim Club paying the direct costs of the swim team program should <br />help revenues. <br />Recreation revenues are projected to be $934,000 which is about $85,451 more than the current <br />year's estimate. This Is because we budget a high amount for senior trips In case we have some <br />high priced trips which would be offset by higher expenditures. For example, Cathy Casalegno, <br />Senior Director Is offering an Outback to the Glaciers - Australia and New Zealand ($5,999 per <br />person double occupancy and the Oberammergau Passion Play and the Imperial Cities ($5,299 <br />per person double occupancy). Most of the proposed Increases are general increase In fees In all <br />programs. Hopefully, Increased fees in preschool programs, youth and adult programs should <br />generate more revenue than Is budgeted for. <br />Miscellaneous revenue other than current /delinquent tax collections are projected to be $157,000 <br />which Is about $7,000 more than the current year's estimate. The major differences is additional <br />Interest revenue for a short term loan to make up for loss of investment pool Interest due to the <br />reduction In cash carry -over. <br />E <br />
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