(1) Each municipal corporation shall estimate in detail its budget resources for the ensuing year or ensuing budget period by funds and sources.
(2) Budget resources include but are not limited to:
(a) The balance of cash, cash equivalents and investments (in the case of a municipal corporation on the cash basis) or the net working capital (in the case of a municipal corporation on the accrual or modified accrual basis of accounting) that will remain in each fund on the last day of the current year or current budget period;
(b) Taxes;
(c) Fees;
(d) Licenses;
(e) Fines;
(f) Interest on deposits or on securities of any kind;
(g) Endowments;
(h) Annuities;
(i) Penalties;
(j) Sales of property or other assets or products of any kind;
(k) Delinquent taxes;
(L) Judgments;
(m) Damages;
(n) Rent;
(o) Premiums on sales of bonds;
(p) Reimbursement for services, road or other work performed for others;
(q) Transfer or reverter of unused balances of any kind;
(r) Reimbursement for services provided other funds;
(s) Rebates;
(t) Refunds of moneys heretofore paid on any account;
(u) Apportionment, grant, contribution, payment or allocation from the federal government, state government or any other governmental units;
(v) Taxes for the ensuing year or ensuing budget period;
(w) Interfund revenue transfers; and
(x) Revenues from any and all other sources of whatsoever kind or character.
(3) Budget resources do not include:
(a) The estimate for the ensuing year or ensuing budget period of discounts under ORS 311.505.
(b) The estimate of uncollectible amounts of taxes, fees or charges for the ensuing year or ensuing budget period.
(c) Moneys accumulated under an approved employee deferred compensation plan and interest or investment returns earned on such moneys.
(d) Grants, gifts, bequests or devises transferred to a municipal corporation in trust for specific uses in the year of transfer. However, such grants, gifts, bequests or devises shall be included as budget resources if, by the time the budget committee approves the budget, the amount thereof that will be received in the ensuing year or ensuing budget period can be reasonably estimated. Such grants, gifts, bequests or devises may be placed in a trust and agency fund, to then be appropriated from such fund or funds.
(e) Amounts deducted from taxes pursuant to ORS 294.632.