Title
Adoption of Resolution Amending the Fiscal Year 2015-16 Operating and Capital Improvement Program Budget and Approving Workforce Changes in the City Manager's Office and Public Works Departments. (Finance 2410)
Body
To: Honorable Mayor and Members of the City Council
From: Jill Keimach, City Manager
Re: 1) Adopt a Resolution Amending the Fiscal Year 2015-16 Operating and Capital Improvement Program Budget; and
2) Approving Workforce Changes in the City Manager's Office and Public Works Departments
BACKGROUND
This report updates Fiscal Year (FY) 2015-16 financial projections for the General Fund and proposes current year budget amendments for various City funds to reflect and react to the City's evolving financial condition.
The discussion below is presented in the following sections:
I. General Fund Available Fund Balance Projection
II. General Fund Revenues
III. General Fund Expenditures
IV. Non-General Fund Programs
V. Workforce Changes
DISCUSSION
The City Council adopted FY 2015-16 Budget on June 2, 2015. Subsequently, the City Council approved amendments to the FY 2015-16 Budget to various funds in the City. The most significant change was approved in September 2015 when Council allocated the General Fund available fund balance in excess of the 20% reserve internal policy requirement.
At this time, staff is bringing forward an update on the General Fund performance and forecast through the end of the current Fiscal Year. Staff recommends approving adjustments to the FY 2015-16 Budget based on the updated projections. In addition, staff reviewed non-General Fund programs and recommends approval of budget amendments for those programs as well.
I. General Fund Available Fund Balance Projection
The originally budgeted General Fund ending available balance for FY 2015-16 was projected to be 38%. Subsequently, the City Council took several actions, with the most significant one on September 15, 2015, to a...
Click here for full text