Report to Mayor and City Council
Tuesday, March 21, 2023
Discussion
SUBJECT:
Title
FISCAL YEAR 2023-2024 BUDGET WORKSHOP NO. 1 (CITY COUNCIL)
Body
I. SUMMARY
This is the first of three planned budget workshops prior to a public hearing on June 20, 2023 to consider the adoption of the proposed Fiscal Year 2023-2024 budget. This workshop will provide an update on the General Fund Reserve and projected revenues for Fiscal Year 2023-2024. The next two workshops, on April 18 and May 16, 2023, will consider proposed expenditures and strategies for achieving and maintaining a structurally balanced budget as required by law. The City's charter requires the City Council to adopt an annual budget by resolution each year prior to June 30.
The City's goal is to adopt a structurally balanced budget for the third consecutive year. A structurally balanced budget is when recurring expenditures do not exceed our recurring revenues.
The nine City Council priorities identified at the Workshop on Mission, Vision and Priorities will serve as the foundation for financial planning in formulating the Fiscal Year 2023-2024 budget. Proposed expenditures will be prioritized in alignment with the City Council priorities highlighted below:
1. Quality of life improvements (infrastructure, maintenance, beautification)
2. Economic development
3. Governance policies and procedures pertaining to districts
4. Housing
5. Increase public safety
6. Make progress on development that provides community benefits in the long term
7. Maintain quality City programs and services
8. Advocacy for funds from county, state and federal government
9. Increased outreach and information to the community
II. RECOMMENDATION
Recommendation
PROVIDE direction to staff which will be used to build the draft budget.
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III. ALTERNATIVES
TAKE another action deemed appropriate by City Council.
IV. BACKGROUND
The purpose of this workshop is for the City Council to receive updated information regarding t...
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