NOTICE OF BUDGET HEARING

NOTICE OF BUDGET HEARING The Board of the Sandy Urban Renewal Agency will hold a public hearing on the Biennium 2021-23 budget at 8:00 p.m. on Monday, June 7, 2021 virtually via Zoom. Links to these meetings can found at https://sandy.civicweb.net/Portal/. A copy of the budget document is available to the public on the city’s web site at www.ci.sandy.or.us. The proposed budget approved by the agency’s budget committee totals $10,359,987 for the two-year period ending June 30, 2023. The breakdown by type of expenditure is as follows: The breakdown by program, including allocated full-time equivalents, is as follows: No new funds or programs are being added in this biennium. No major changes in operations are proposed and the basis of accounting remains the same as the current biennium. This budget maintains consistent service levels from previous budget periods. As of July 1, 2021, the agency will have $7,794,374 in outstanding debt. There is no new debt included in the BN 21-23 budget. Resources to support these budgets are as follows: Other resources includes beginning fund balances and interest. Property tax revenues assume 5% will be uncollectable in the year they are levied. The agency elects to receive 100% of the allowable tax increment revenue allowed by state law. Published June 2, 20201.OL203944

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