City Council Agenda Report
Meeting Date: May 21, 2024
From: Jessica Alcaraz, Financial Services Administrator Department: Finance
Submitted by: Angela Melgar, Finance Manager
Subject
Fiscal Year 2024-25 Budget Workshop II
Recommendation
No action required by City Council. This is a presentation only.
Background
As required by Chapter 8.2 of the City’s Charter, staff presented the proposed budget for Fiscal Year (FY) 2024-25 to City Council during the first Budget Workshop held on May 7, 2024. Budget Workshops allow City Council to gain an in-depth understanding of the City’s operations and intended fiscal direction prior to the FY 2024-25 Budget adoption. During uncertain economic times, it is essential for City Departments to focus on operational efficiencies, areas of cost savings, and diversified revenue streams. Committed reserves also serve as a good buffer during times of economic downturn. As the City navigates an economic slowdown, aforementioned key factors were taken into account by staff in the development of the FY 2024-25 budget presented while keeping the delivery reliable, high quality services and investment in infrastructure at the forefront.
During the Budget Workshop I presentation on May 7, 2024, staff outlined the details of the FY 2024-25 Proposed Budget for City Council’s feedback and direction. Accordingly, Budget Workshop II will cover the changes in the General Fund’s and the Enterprise Funds’ budget from the previous version to the current iteration for Council’s consideration.
Fiscal Impact
There is no fiscal impact associated with this report.
Attachments
1. FY 2024-25 Proposed Budget