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Budget Workshop for Fiscal Year 2024-25 Proposed Mid-Cycle Budget Update to Provide Direction on Funding Changes that Will Be Incorporated into Midcycle Budget Adoption Materials for City Council Consideration on June 18, 2024. [City Council/SACIC] (Finance 10024054)
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To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
This Mid-Cycle Budget Update incorporates funding updates and departmental proposals for changes in service levels for fiscal year (FY) 2024-25 since the FY 2023-25 Biennial Budget was adopted by City Council in June 2023. The City Manager is proposing a General Fund budget of $144.57 million in FY 2024-25. The total proposed budget for all funds is $324.43 million and includes funding for 3 new positions.
Staff is seeking direction from the City Council on these proposed service level and workforce changes, and other funding changes in order to align the City's spending plan for FY 2024-25 with the City Council's strategic plan priorities.
BACKGROUND
On June 20, 2023, City Council approved Resolution No. 61060 which adopted the FYs 2023-25 Biennial Budget. On February 20, 2024, City Council adopted Resolution No. 16135 which adopted midyear changes to the FY 2023-24 budget, some of which resulted in ongoing expenditure impacts to future budgets. Those impacts are incorporated in the FY 2024-25 Adjusted Baseline Budget.
The budget workshop on May 21, 2024, provides City Council and the community an opportunity to discuss the factors that make up the overall City budget and consider proposals for changes in service levels and capital improvements.
During the workshop, staff will provide highlights of the Proposed Mid-Cycle Budget and answer questions on budget projections and departmental funding changes that are outside of the Adjusted Baseline Budget estimates. City Council may also provide direction to staff on funding changes to incorporate into the FY 2024-25 budget to ...
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