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12:00 p.m. to 4:00 p.m. - Receive Fiscal Year 2018-19 Mid-Cycle Budget Report and Provide Direction to Staff for June 19, 2018 Budget Adoption, Including Revenue Measures. (Finance 2410)
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To: Honorable Mayor and Members of the City Council
From: Elizabeth D. Warmerdam, Acting City Manager
Re: Receive Fiscal Year 2018-19 Mid-Cycle Report and Provide Direction to Staff for June 19, 2018 Budget Adoption, Including Revenue Measures
BACKGROUND
The City Council adopted the biennial Budget for the Fiscal Year (FY) 2017-18 and 2018-19 on June 6, 2017. After the first year of the budget cycle, staff has traditionally brought to the City Council an update to the second budget year (mid-cycle update). Staff is pleased to present comprehensive budget information in a workshop format to provide information to the City Council and community at large and seek direction from the City Council. The FY 2018-19 mid-cycle update includes changes related to a more refined revenue forecast based on the current economy and expenditure changes necessitated by operating demands or other external factors.
The purpose of this budget workshop is to provide the City Council an understanding of the City's General Fund fiscal position at the end of Fiscal Year 2017-18 and project out into Fiscal Years 2018-19 and beyond. A summary of the FY 2018-19 mid-cycle General Fund Budget is presented in Exhibit 1. Staff will also provide information related to non-General Fund programs for the City Council's direction. With that as a backdrop, we will be informing the public and City Council about departmental requests prior to incorporating them into the mid-cycle Budget Update. Based upon input provided by the City Council at this meeting, staff will bring the mid-cycle Budget update to the City Council for presentation and consideration at the June 19, 2018 Council meeting.
Staff will also present to the City Council for discussion options for potential revenue measures (Exh...
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