Report to Mayor and City Council
Tuesday, June 06, 2017
Discussion
SUBJECT:
Title
FISCAL YEAR 2017-18 BUDGET WORKSHOP #4 (CITY COUNCIL)
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I. SUMMARY
The draft budget contained herein includes recommendations from the City Council Budget Subcommittee; which have reduced the draft FY17-18 General Fund budget deficit from $6.8 million to $4.1 million or 5.4% of General Fund revenue. The Budget Subcommittee (Mayor Pro Tem Davis-Holmes and Councilmember Hicks) has met 8 times to review staff proposals and to make recommendations.
The draft FY17-18 budget does not include any cost-of-living wage increases for employees, or the impact of any potential new revenue sources.
Staff requests further direction from City Council; and recommends the City Council conduct a public hearing to consider adoption of the FY17-18 budget on June 20, 2017.
II. RECOMMENDATION
Recommendation
PROVIDE additional direction regarding the draft FY17-18 budget.
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III. ALTERNATIVES
TAKE another action deemed appropriate by City Council.
IV. BACKGROUND
Draft Budget Status
At the 3rd budget workshop on May 16th, the draft FY17-18 General Fund budget deficit was estimated to be $6,760,223. City Council provided additional direction on May 16th which has been incorporated into the draft budget.
Since May 16th, the Budget Subcommittee has met 2 additional times, and has made recommendations to reduce the draft deficit. A summary of the changes since May 16th follows.
Sales Tax Revenue
General Fund revenue estimates were prepared for the April 18th workshop. Small adjustments have been made as new information becomes available. However, we just received a significant revision to the FY17-18 sales tax estimate from the City's sales tax audit/analysis consultant, HdL Companies.
Several factors contribute to the $404,589 revision. A computer company relocated to Vista, but Carson has continued to receive the sales tax allocation. HdL expects the City will receive a large re...
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