City Council

A. FISCAL YEAR 2023-2024 MID-YEAR BUDGET UPDATE [RESOLUTION NO.\n24-12]\nThe mid-year budget update report examines the financial results of the general\nfund and Mission Playhouse fund through January 31, 2024. The mid-year\nfinancial information is analyzed, budget projections for both revenues and\nexpenditures are updated, and mid-year budget adjustments are proposed. The\nresults of the review are presented to the City Council. As outlined in Resolution\nNo. 24-13, the mid-year adjustments proposed by departments will result in a\nnet increase in general fund appropriations of $3,000. This stems from mid-year\ndepartmental budget requests of $944,000, which are off-set by vacancy savings\nof $941,000. Furthermore, other City funds have requested appropriation\nincreases, $19,000 for Mission Playhouse fund, $10,000 for Proposition C local\nreturn fund, and $90,000 for development impact fee fund.\nCalifornia Environmental Quality Act (CEQA) Determination: Not a Project as\ndefined in Section 15378 of the State CEQA Guidelines.\nRecommended Action:\nStaff recommends that the City Council receive and file the mid-year budget\nupdate report and adopt Resolution No. 24-13 approving mid-year adjustments\nto Fiscal Year 2023-24 budget and Resolution No. 24-12 approving mid-year\ndepartmental staffing adjustments.