City Council

F. Adoption of Resolutions Approving the City of Rosemead’s FY 2024-25 Operating Budget, Capital Improvement Program Budget, Financial Policies, Establishing the FY 2024-25 Appropriations Limit, Approving the Rosemead Housing Development Corporation FY 2024-25 Annual Budget, and Amending the City of Rosemead’s FY 2023-24 Budget, and Amending the City of Rosemead’s Consolidated Salary Schedule The report provides a comprehensive overview of the City’s financial strategy for the 2024-25 Fiscal Year. The FY 2024-25 Budget for all City operating expenditures is $41,771,600 and is divided into three operating fund types: the General Fund, Special Revenue Funds, and Internal Service Funds. The Capital Improvement Program budget is $7,649,267 and includes funding for two new projects, additional funding for existing projects, and funding for four annual projects. The proposed budget for the Rosemead Housing Development Corporation (RHDC) is $939,520. Recommendation: That the City Council provide a comprehensive overview of the City's financial strategy for the Fiscal Year 2024-25 and adopt the following Resolutions by title: * RESOLUTION NO. 2024-29 RESOLUTION OF THE COUNCIL OF THE CITY OF ROSEMEAD ADOPTING THE CITY'S OPERATING BUDGET, AUTHORIZED STAFFING, AND FINANCIAL POLICIES FOR THE 2024-25 FISCAL YEAR AND UPDATING THE LISTING OF SALARY AND JOB CLASSIFICATIONS FOR FULL-TIME POSITIONS * RESOLUTION NO. 2024-30 RESOLUTION OF THE COUNCIL OF THE CITY OF ROSEMEAD ADOPTING THE CITY'S CAPITAL IMPROVEMENT PROGRAM (CIP) BUDGET FOR THE 2024-25 FISCAL YEAR * RESOLUTION NO. 2024-31 Staff Report