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i <br /> Public Works <br /> Administration <br /> City of Eugene <br /> <br /> ' 858 Pearl Street <br /> Eugene, Oregon 97401 <br /> MEMORAND ~J l~'1 (541) 682-5241 <br /> (544) 682-6826 FAX <br /> w~n,~.eugene-or.gov <br /> <br /> ~ Date: December 17, 2008 <br /> <br /> i <br /> To: Mark Schoening, Johnny Medlin, Peter Ruffier, Becky Olson <br /> From: Susan Weixelman <br /> . Subject: Preliminary Report on SDC Administration Fund - 33~'. <br /> The purpose of this memo is to summarize the current fmancial sii~iatioii of the Systems De elopment <br /> Administration Fund (SDC) -Fund 332, give a process update, to ad~~ise you of preliminary solutions <br /> we're currently exploring, and identify items for follow up. <br /> Fund 332 is in a declining fund balance situatici enues eontinuui~ to decline rapidly. We need to <br /> .look at a combination of solutions, including-in asi dies, decreasn~i expenditures, and/or raising <br /> rates/fees to ensure a sustainable long-term fore t for t fib <br /> Background <br /> Fund 332 is used to accrnu~t for the pry-7/1/91 SDC eivables for <br /> which allocation by fund type was not <br /> required. In additic»>, anti} FY96, fiind 332 was desi ed as the. "SDC" financing fund for customers <br /> .who re~ uire financi~i of the SDC' char =es. This fund i ed b .90 FTE from PDDBuildin & Permit: <br /> q Y g <br /> services, these.FTE do some SDt' speciire R-c~rk includii overall administration, intake & log-in, and, <br /> plan review '4~'F? has ~'.a5 F7~E asi~;ned to SllC adrmnistrat~ion and plan review, and Central Services <br /> currentl ~ . ~ ~~'~Th in. Customer Rccci~ ablcs (is currently budgeted, but it not being charged to this <br /> fund <br /> • e revenues for thi: dare: <br /> 1. dministration - curre~3itly a 5% administrationfee assessed on the gross amount of the <br /> . ch <br /> 2. SDC act Revere - -the combination of legacy fmanced contracts that are making payments <br /> (both p and i est) to the Admire Fund and the 5% Admire fee from new contracts that <br /> are fmanc rid co ted in installments). <br /> 3. Minor Other Jurea 1Zevenues -primarily investment interest earnings on the small'fund balance; <br /> 4. Interest "burnh'' on SDC Contracts -this is currently not being collected in the SDG Admire fund <br /> due to an oversight in 1996 when a change was made in the fund "holder" of the contracts: More <br /> discussion of this issue is included later in this memo. <br /> FY09 Revenue Budget: F09 Expenditure Budget: <br /> SDC Admire Fee $277,338 Budget FTE <br /> SDC Contract .Revenue $50,000 PDD $11:7,417 0.90 <br /> Interest on SDC Contracts $3,000 Central Svcs $42,000. 0.50 <br /> Page 1 of 4 <br /> <br />