The annual reports are in addition to the Urban Renewal budgets which are adopted after a public budget process, a public hearing before the Urban Renewal Agency, and in addition to the annual Urban Renewal Agency Audit.Ĭomponents of the financial report include: Oregon Revised Statues (ORS) 457.460 requires a financial impact statement from the Urban Renewal Agency be filed with the City Council by January 31st of each year. Annual Reports are filed with the City Council each January.