TO:
Honorable Mayor and Members of the City Council
THROUGH:
Mark Danaj, City Manager
FROM:
Bruce Moe, Finance Director
Tony Olmos, Public Works Director
Henry Mitzner, Controller
Libby Bretthauer, Financial Analyst
SUBJECT:Title
Fiscal Year 2016-2017/2017-2018 Operating Budget and FY 2017-2021 Five Year Capital Improvement Plan: Final Direction in Advance of Public Hearing and Adoption on June 21, 2016 (Finance Director Moe/Public Works Director Olmos).
DISCUSS AND PROVIDE DIRECTION (CONTINUED FROM JUNE 7, 2016 REGULAR CITY COUNCIL MEETING)
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council provide final direction on the FY 16-17/17-18 Operating Budget and FY 2017-2021 Capital Improvement Plan in advance of the Public Hearing on June 21, 2016.
Body
FISCAL IMPLICATIONS:
The City's fiscal year 2016-2017 Proposed Budget includes expenditures across all funds totaling $114,280,733. The General Fund is balanced with revenues of $67,822,465 and expenditures of $67,250,989 resulting in a projected surplus of $571,476. These funds are available for further allocation (one-time and on-going) by City Council.
The Proposed fiscal year 2017-2018 Budget includes expenditures across all funds totaling $133,108,379. The General Fund is balanced with revenues of $70,233,976 and expenditures of $69,607,107 resulting in a projected surplus of $626,869. These funds are also available for further allocation (one-time and on-going) by City Council.
BACKGROUND:
City Council has held three Budget Study Sessions to date (May 5, 23 and 31). Through those meetings, staff provided answers to the Community's and City Council's questions, and provided supplemental information as requested.
Tonight's meeting is designed for City Council to direct final changes to the proposed budget and Capital Improvement Plan. Those changes will be reflected in the resolutions wh...
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