Administrative
Report
L.2., File # 24-0974 Meeting Date: 6/4/2024
To: MAYOR AND CITY COUNCIL
From: WENDY COLLAZO, FINANCE DIRECTOR
TITLE
PUBLIC HEARING TO CONSIDER THE FISCAL YEAR 2024-2025 PROPOSED BUDGET AND
FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM
PROCEDURES:
a. Open the Public Hearing,
b. Take testimony,
c. Continue the Public Hearing to June 11, 2024, and
d. Receive and file Budget Response Reports.
EXECUTIVE SUMMARY
On May 16, 2024, the City Council received the Proposed Budget for Fiscal Year 2024-25 and the Five-Year Capital Improvement Program (CIP). On May 21, 2024, the City Council was given an introductory presentation on the Budget and provided an opportunity to request additional Budget Response Reports. As part of the item, the City Council set June 4, 2024 as the date for the first Budget Hearing and scheduled additional hearings for June 11 and June 18, 2024.
BACKGROUND
The Proposed Budget (found on the City’s website at www.redondo.org/budget describes the work program the City will follow to achieve the goals and objectives for the coming year. The Budget is designed to be consistent with the City Council’s Strategic Plan, as well as the City’s adopted Financial Principles. The Budget emphasizes core services that are essential to the City’s mission.
The City Manager’s Budget Message describes the Budget development process, the projected financial outlook for the coming fiscal year, and a summary of the Budget’s proposed revenues and expenditures. It also presents recommended Decision Packages - additions or reductions to the base budget that are not contractually obligated or the result of annual personnel allocation updates - and their financial impact.
The Budget includes a Fund Summaries Section, which highlights the status of key fund balances and presents more detailed summaries (mini-financials) to describe important fund activities and business unit proformas.
The Department Sections of the Budget identifies each Department’s mission, level of personnel, annual maintenance and operations expenses, core services, key projects and assignments, and
L.2., File # 24-0974 Meeting Date: 6/4/2024
customer service work measures.
The CIP identifies the capital investment recommended to meet the City’s policy goals and to ensure good stewardship of the community’s existing infrastructure. The CIP identifies the projects, their estimated costs, and the financing methods proposed to implement the City’s capital investment goals and the maintenance of new or existing infrastructure.
The proposed General Fund Budget for the upcoming Fiscal Year is summarized in the below table:
Budget Response Reports (BRRs), which will be provided throughout the budget adoption process, give detailed information above and beyond what can be described in the Budget document. They offer supplemental information on the significant budget issues that are of interest to the City Council and may be addressed in the coming fiscal year, and beyond.
Attached to this report is the listing (Table of Contents) of the BRRs in development. The Budget Response Reports are available at www.redondo.org/budget and will be periodically added to the website link beginning on Thursday, May 30, 2024, then again on Tuesday, June 4, 2024, Friday, June 7, 2024, Tuesday, June 11, and finally on Thursday, June 13, 2024, if needed.
COORDINATION
All City Departments participated in the preparation of the Fiscal Year 2024-25 City Manager’s Proposed Budget and Five-Year CIP. The Planning Commission reviewed the Five-Year Capital Improvement Program for General Plan conformity on May 23, 2024. The Public Works and Sustainability Commission reviewed the Budget on May 29, 2024. The Budget and Finance Commission is scheduled to review the Budget on May 30, 2024 and the Harbor Commission on June 10, 2024. Any Commission feedback provided on the Budget will be submitted to the City Council as part of Budget Response Report #36.
FISCAL IMPACT
The adopted version of the Fiscal Year 2024-25 Budget will create the financial guideline for all City operations. The Five-Year CIP is a planning document only. Only funding for capital projects
L.2., File # 24-0974 Meeting Date: 6/4/2024
operations. The Five-Year CIP is a planning document only. Only funding for capital projects identified in the first year of the Plan will be appropriated as part of the Fiscal Year 2024-25 Budget.
APPROVED BY:
Mike Witzansky, City Manager
ATTACHMENTS
· FY 2024-25 Budget Response Reports- Initial List