City Council

5. MID-YEAR BUDGET REVIEW FOR FISCAL YEAR 2023-2024 AND RESOLUTION\nADOPTING FY 2023-24 BUDGET ADJUSTMENTS – F2M23-17, R2M24-5\nOn June 26, 2023, the City Council adopted the Budget for Fiscal Years 2023-24 and\n2024-25, which appropriated funds and approved revenue projections for the fiscal year.\nDuring the fiscal year, unforeseen financial needs and opportunities typically arise, which\nrequire City Council approval of recommended adjustments to projected revenues and\nexpenditures. Staff is presenting a mid-year Budget review to provide a Budget update for\nFY 2023-24. The Director of Finance will provide the City Council will a high-level overview\nof the FY 2022-23 actual performance and updated budget projections for FY 2023-24.\nStaff is also requesting that the City Council approve a resolution adopting the FY 2023-\n24 Budget adjustments.\nRecommended Action: City Council receive and file the Mid-Year Budget Review\nand related reports; and, adopt Resolution No. R2M24-5 entitled: A Resolution of the\nAlhambra City Council adopting Fiscal Year 2023-24 Budget adjustments of the City of\nAlhambra, Golf Course Clubhouse Corporation, Alhambra Capital Improvements\nCorporation, Alhambra Parking Authority, Alhambra Facilities Financing Authority and the\nAlhambra Public Financing Authority\nCONSENT AGENDA (Item Nos. 6 – 31)\nAll items listed under the Consent Agenda are considered by the City Council to be routine and\nwill be enacted by one motion unless a citizen or Council member requests otherwise; in which\ncase, the item will be removed for separate consideration.\n3\n2-26-24