Administrative
Report
L.3., File # 23-6196 Meeting Date: 6/6/2023
To: MAYOR AND CITY COUNCIL
From: WENDY COLLAZO, FINANCE DIRECTOR
TITLE
CONTINUED PUBLIC HEARING TO CONSIDER THE FISCAL YEAR 2023-2024 PROPOSED
BUDGET, FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM, AND ASSOCIATED BUDGET
RESPONSE REPORTS
PROCEDURES:
a. Reconvene the Public Hearing.
b. Take testimony; and
c. Continue the Public Hearing to June 13, 2023
EXECUTIVE SUMMARY
On May 16, 2023, in accordance with the City Charter, the Mayor and City Council received the Proposed Budget for FY 2023-24 and the Proposed Five-Year Capital Improvement Program (CIP).
On May 30, 2023, the first Public Hearing on these documents was conducted and continued to June 6, 2023. The May 30th Public Hearing included an introduction and summary of the Proposed Budget, presentations from operating departments, and provided an opportunity for the City Council to review, and add to, the list of Budget Response Reports (BRRs) and ask questions of staff. The June 6th Budget Hearing will be focused on City operations. The June 13th Budget Hearing will be focused on proposed capital projects and changes to the City’s master fee schedule. The June 20th Hearing will be focused on the Council’s consideration of Budget Adoption.
BACKGROUND
The June 6th Hearing will continue the City Council’s review and consideration of the FY 2023-24 Budget and CIP. Going into the May 30th Budget Hearing staff compiled a list of questions for 37 Budget Response Reports. The direction provided by City Council at the Hearing expanded the list to 58 BRRs.
To date, 14 Budget Response Reports (attached) have been completed. These reports include detailed information above and beyond what can be described in the budget document and provide an opportunity for the City Council to explore and better understand the cost of supplemental budget initiatives. As additional BRRs are completed, they will be uploaded on the City’s budget website.
The proposed Fiscal Year 2023-2024 Budget (which can be found using the following weblink www.redondo.org/budget <http://www.redondo.org/budget>) is balanced in accordance with the City Councils’ adopted Financial Principles. If all Decision Packages are adopted as proposed, the
L.3., File # 23-6196 Meeting Date: 6/6/2023
General Fund’s remaining unallocated balance (annual revenues over expenditures) would be $1,702,643.
COORDINATION
All City Departments participated in the preparation of the Fiscal Year 2023-24 City Manager’s Proposed Budget and Five-Year Capital Improvement Program.
FISCAL IMPACT
The City Manager’s Fiscal Year 2023-2024 Proposed Budget (before Decision Packages) totals $174.8 million. The Budget, when adopted, will create the financial framework for all City operations, projects, and services for the July 1, 2023 - June 30, 2024 Fiscal Year.
APPROVED BY:
Mike Witzansky, City Manager
ATTACHMENTS:
FY 2023-24 Budget Response Reports, Updated List - June 1, 2023