City Council

A. Budget Discussion Study Session – Review of the Proposed FY 2024-25 Operating and Capital Improvement Program Budgets The purpose of the study session is for staff to present the Proposed FY 2024- 25 Budget to City Council, answer related questions, and receive feedback on the proposal for possible adoption on June 27, 2024. The Proposed FY 2024-25 Budget for all City operating expenditures is $ 51, 584, 100 and is comprised of three operating fund types ( General Fund, Special Revenue Funds, and Internal Service Funds). The Capital Improvement Program budget is $ 7, 649, 267 and includes funding for 2 new projects, additional funding for 22 existing projects, and funding for 4 annual projects. The Rosemead Housing Development Corporation ( RHDC) budget is proposed at $ 939, 520. The Successor Agency budget is presented as ` informational only' and is set at $ 2, 554, 517 to cover debt service on the exiting bonds, operational shortfall and lease payments of the RHDC, and administrative costs. Recommendation: That the City Council review the Fiscal Year 2024- 25 Proposed Operating and Capital Improvement Program Budget as well as review the recommended Fiscal Year 2023- 24 budget adjustments and provide staff direction. The City Council will recess the special meeting and reconvene at the regular 7.•00 p.m. City Council meeting. lune 11, 2024 Special & Regular Joint Meeting Agenda REGULAR MEETING 7: 00 P. M.