City Council

4. Consideration and possible action to review the Fiscal Year (FY) 2023-24 year-end estimates and the FY 2024-25 Preliminary Citywide Budget. (Ramos/ Loya) (30 mins) Recommendation: (1) Review the FY 2023-24 year-end estimates and approve Budget Adjustments in the General Fund by reducing the budget in the amount of $808,700 in Non-Personnel and by $200,000 in Transfers-Out based on the third quarter year-end estimates; (2) Review the Preliminary FY 2024-25 Budget for the General Fund and affirm the changes since the April 18 Budget Workshop: • Increase the General Fund Revenues by $230,600. • Increase the General Fund Non-Personnel Expenditure by $80,000. • Adjust Transfers-Out: i. Decrease Transfers-Out by $30,000. ii. Increase Capital Infrastructure Program (CIP) by $1,400,000 from FY 2022-23 available unallocated fund balance as affirmed by the City Council at the April 18 Budget Workshop. iii. Retain the estimated FY 2024-25 unallocated balance of $266,650 instead of transferring it to the CIP Fund. (3) Review and approve the FY 2024-25 Preliminary Citywide Budget consisting of the Capital Infrastructure Program (CIP) Fund and program list, Special Revenue Funds, Permanent Funds, and Internal Service Funds; and, (4) Direct staff to return on June 18, 2024 for the budget public hearing and budget adoption consideration. Agenda Report