CITY OF COMMERCEAGENDA REPORTCITY OF COMMERCEAGENDA REPORT
CITY OF COMMERCE
AGENDA REPORT
CITY OF COMMERCE
AGENDA REPORT
Item No. Item No.
Item No.
Item No.
TO: Honorable City Council
FROM: City Manager
SUBJECT: A Resolution Amending the Annual Operating Budget for Fiscal Year 2023-2024 Meeting Date: August 22, 2023
RECOMMENDATION:
Approve and adopt the proposed Resolution amending the annual operating budget for fiscal year 2023-2024.
BACKGROUND/ANALYSIS:
The City Council entertained a presentation at a budget hearing on June 22, 2023 in the City Council Chambers. Following the feedback and guidance received during the hearing, the staff worked diligently on revising the budget proposal, which was presented at the City Council meeting on June 27, 2023. After further discussion, the City Council adopted a FY2023-24 General Fund budget totaling $63,962,083. This budget included the following elements:
FY 2022-23 Baseline Budget $60,478,095
FY 2022-23 Budget Revisit $ 1,455,134
LA County Safety Services $ 1,463,978
Public Works Contracts $ 153,926
Utilities $ 192,130
TOTAL $63,962,083
As part of the presentation, there were a number of departmental personnel requests (totaling $1,129,063) that the City Council voted to defer to a future date because they desired more time to digest the details provided, and mull over the need thereof.
Further information related to the aforementioned departmental requests will be presented at the City Council meeting taking place on August 22, 2023.
Capital outlay requests will be brought back to the City Council at the next meeting.
ALTERNATIVES:
Approve staff recommendation
Provide staff with further direction
FISCAL IMPACT:
If the City Council chooses to approve all the departmental requests, an amendment to the adopted FY 2023-24 budget will need to be approved.
RELATIONSHIP TO STRATEGIC GOALS:
This report before the Council is not applicable to any specific 2016 Strategic Plan goal; however, it is related to the following: Fiscal Sustainability – The City of Commerce will implement innovative and responsible policies and business practices to effectively manage its fiscal and human resources. The City will maintain a stable financial environment that is transparent and supports an outstanding quality of life for our community. City business practices will be efficient, business friendly and ensure exceptional customer service.
Respectfully submitted: Edgar P. Cisneros, City Manager Recommended by: Vilko Domic, Assistant City Manager
Approved as to form: Noel Tapia, City Attorney