City Council

A. FISCAL YEAR 2024-2025 MID-YEAR BUDGET UPDATE [RESOLUTION NO.\n25-13]\nThe mid-year budget update report reviews the financial performance of the\nGeneral Fund and the Mission Playhouse through January 31, 2025. The General\nFund serves as the primary operating fund for the City. This update analyzes\nrevenues and expenditure trends, incorporates additional appropriations since\nthe budget’s adoption, and projects the financial results for the fiscal year\nending June 30, 2025. The report also provides explanations for the changes\nreflected in the mid-year budget update.\nCalifornia Environmental Quality Act (CEQA) Determination: Not a Project as\ndefined in Section 15378 of the State CEQA Guidelines.\nCity Council Regular Meeting Agenda – March 18, 2025 5\nRecommended Action:\nStaff recommends City Council receive and file the mid-year budget update\nreport and adopt Resolution No. 25-13 approving mid-year adjustments to the\nfiscal year 2024-2025 budget.