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URBAN RENEWAL AGENCY OF THE CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(3) Stewardship. Compliance, and Accountability. continued <br />(A) Budgetary Information, continued <br />Unexpected additional resources, or appropriations may be added to the budget through the use of a <br />supplemental budget. A supplemental budget requires hearings before the public, publications in <br />newspapers, and approval by the Agency. Original and supplemental budgets may be modified by the <br />use of appropriation transfers between the levels of control. Such transfers require approval by passing <br />an Agency resolution authorizing the transfer. All budget amendments are subject to the limitations put <br />forth in the Oregon Revised Statutes Chapters 294.305 through 294.565 (Oregon Budget Law). The net <br />effect of amending resolutions passed during the fiscal year was an appropriation increase of $5,703,923., <br />(4) Detailed Notes on All Funds <br />(A) Equity in Pooled Cash and Investments <br />The City maintains a common cash and investments pool that is available for use by all funds, including <br />the Agency. The Agency's portion of this pool is displayed in the Statement of Net Assets and the <br />Balance Sheet as "Equity in pooled cash and investments." Cash and investments are comprised of the <br />following at June 30, 2008: <br />Deposits with banks $ 1,552,464 <br />Investments 9,300;482 <br />$ 10,852,946 <br />Detailed information for the Agency's pooled cash and investments can be found in the City of Eugene's <br />FY08 Comprehensive Annual Financial Report (Notes to Basic Financial Statements). <br />(B) Deferred Revenue <br />Governmental funds report deferred revenue in connection with receivables for revenues that are not <br />considered to be available to liquidate liabilities of the current period, and for resources that have been <br />received but not yet earned. At June 30, 2008, the deferred revenue reported in the Balance Sheet for <br />governmental funds consist of the following: <br />Property taxes receivable: <br />Debt Service <br />Riverfront Special Revenue <br />Total <br />$ 210,155 <br />33,174 <br />Notes receivable: <br />General <br />Other: <br />Debt Service <br />Riverfront Special Revenue <br />Total deferred revenue <br />498,871 <br />41,984 <br />9,898 <br />$ .794,082 <br />continued <br />25 <br />