TO:
Honorable Mayor and Members of the City Council
THROUGH:
Mark Danaj, City Manager
FROM:
Bruce Moe, Finance Director
SUBJECT:Title
Conduct Public Hearing Regarding the Adoption/Approval of Fiscal Year 2016-2017/2017-2018 Operating Budget (Finance Director Moe).
CONDUCT PUBLIC HEARING, ADOPT RESOLUTION NO. 16-0035
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council: a) conduct a public hearing; and b) adopt Resolution No. 16-0035 which adopts the Fiscal Year 2016-2017 Operating Budget and approves the second year of the two year budget (FY 2017-2018). Additionally, the Resolution adjusts Management/Confidential salary ranges by 2.23% and authorizes the City Manager to adjust Management/Confidential salaries within a 2.23% merit pool for Fiscal year 2016-2017. It also approves moving the Environmental Program Manager from salary schedule MC3 to MC4 (this has no budgetary impact as explained below)
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FISCAL IMPLICATIONS:
This budget is a biennial spending plan covering fiscal years 2016-2017 and 2017-2018. With the passage of Resolution No. 16-0035, Council will be adopting the FY 2016-2017 budget and approving the FY 2017-2018 budget. The FY 2017-2018 budget will be adopted one year from now in order to go into effect July 1, 2017.
The Fiscal Year (FY) 2016-2017 budget, including all funds, estimates revenues of $113,843,415 and expenditures of $114,653,747. Within those figures, the General Fund has revenues of $67,822,465 and expenditures of $67,709,224, resulting in a surplus of $113,241. The estimated fund balance at June 30, 2017 is $16,300,195 and includes $13,450,198 in financial policy reserves and $1,864,168 in Economic Uncertainty Reserves. These figures incorporate all City Council-directed changes identified through the budget study sessions, as well as staff-recommended changes and corrections to the budget. All modification...
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