City Council

11.2 FY 2024-2025 Mid-Year Budget Review\nRECOMMENDATION: It is staff’s recommendation that the City\nCouncil:\n1. Receive, discuss, and file the fiscal year 2024-25 mid-year budget\npresentation, and\n2. Approve the following additional appropriations for fiscal year 2024-\n25. Measure R Funds (286) $5,100, Measure A Funds (286) $400K; Gen\nFund CIP (115) & Measure A $440K; Prop C (281) $450K; and Measure R\n(286) $75K\nCONCLUSION: The Fiscal Year 2024-2025, mid-year budget report\nhas been presented. Revenues are projected to be lower by $3.40\nmillion and expenditures are projected to be higher by $508K, which\nincluded the Mid-Year adjustments and the City Council Approved\nappropriation during the year bringing the total projected\nexpenditure to $46.67 million.\nFISCAL IMPACT: If approved, the following additional appropriations\nwill be added to the following funds: Measure R Funds (286) $5,100,\nMeasure A Funds (286) $400K; Gen Fund CIP (115) & Measure A $440K;\nProp C (281) $450K; and Measure R (286) $75K\nATTACHMENTS: Exhibit 1 - Fiscal Year 2024-2025 Mid-Year Budget\nPresentation.pptx