FY19 Adopted Budget Snapshot

The following infographic provides a quick summary of the FY19 Adopted Budget. It is intended to be interactive; try clicking on different sections for a deeper dive on the topic in the FY19 Adopted Budget document.
FY19 Adopted Budget Snapshot Total City Budget $722.2 Million, Up 6.6% from FY18 Adopted Budget Aa1 Bond Rating, The rating outlook is stable and reflects the expectation that the City will continue to manage its finances well, maintaining reserves at levels similar to historical results and debt at low levels. The City manages to its financial policies and has a history of stable financial performance - Moody's Investors Service June 2, 2016 Where Does My Property Tax Dollar Go? $0.09 to Lane County, $0.46 to schools, $0.43 to City of Eugene, $0.02 to Urban Renewal Agency How is the City property tax bill changing in the FY19 Budget for a typical Eugene home with an assessed taxable value of $208,414? City Permanent Operating Levy up $41, City Local Option Levy for Library Operations $0 (no change), City Local Option Levy for Parks and Recreation (new) $42, City Debt Taxes up $5, equals Total City Taxes up $88, and Urban Renewal Agency Taxes up $3 for a total tax increase of $91 Why do we focus on the General Fund? 1. It is the largest fund. 2. It provides the only source of discretionary funding for the City. Pie chart breakout of top 4 funds by dollar share of the budget. How are we spending General Fund dollars: Pyramid chart with 59% for Public Safety (Police, Fire, EMS) represents a majority of the 2019 Adopted General Fund Budget, 20% to Culture and Recreation Services, 12% to Central Business Functions, 9% to Infrastructure and Planning Key Financial Policies: 1. Focus on long-term impacts with six-year forecasts. 2. Maintain adequate reserves to provide financial flexibility. 3. Use one-time revenues for one-time expenses. Yellow stoplight: The General Fund is in cautionary status. Quote from Jon Ruiz, City Manager: While our budget outlook is cautious, I'm fully confident in our ability to persevere. Through the work of the Budget Committee, City Council, staff and the community, we are in a strong position to address future challenges and seize opportunities. Do we have an adequate savings account? The Reserve for Revenue Shortfall (RRSF) is the City's 'savings account' for the General Fund. It is used to weather the cyclical nature of economic cycles and to provide a cushion for unexpected events. Bar graph showing FY13-FY19 levels for the RRSF and the 8% target. All years except FY13, FY18 and FY19 are below the target. In FY18 and 19, the RRSF is above the target level due to one-time funds from the Comcast legal settlement. A line graph showing whether revenues exceed expenses in fiscal years 19-24. Are we living within our means? The Surplus/(Deficit) shows if the City is living within its means or, put another way, if revenues are greater than expenditures. The General Fund is in stable position through FY21, although a budget gap opens in the future as we look out at FY22 and beyond. Get Involved! www.eugene-or.gov/Budget