Report to Mayor and City Council
Tuesday, April 18, 2023
Discussion
SUBJECT:
Title
FISCAL YEAR 2023-2024 BUDGET WORKSHOP NO. 2 (CITY COUNCIL)
Body
I. SUMMARY
This is the second of three planned Budget Workshops being presented to the City Council before its considering adoption of the Fiscal Year 2023-2024 budget on June 20th, 2023. The first Budget Workshop took place on March 21st, 2023 where staff presented detailed information on the City General funds revenues including forecast for Fiscal Year 2023-2024 This report includes updated information regarding the General Fund Reserve, projections for the Fiscal Year 2023-2024 General Fund personnel expenditures, departments' operating expenditures and a preliminary estimate of the Los Angeles County Sheriff contract. The third and final budget workshop on May 16th, 2023 will include Capital Improvement Projects, Special Revenue Funds and Special Events fund.
See Exhibit (1) pertaining to year over year comparison of General Fund revenue line items discussed in detail during first Budget Workshop.
Development of the City's Operational Budget are guided by the 9 principles listed 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
Of these nine priorities, the City Council concluded that Economic Development, Increased Public Safety, Maintaining Quality City Programs and Services and Quality of Life Improvements are its top four priorities.
II. RECOMMENDATION
Recommendation
PROVIDE direction to staff on any expenditure line item that will be used to build the draft budget.
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III. ALTERNATIVES
TAKE a...
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