City Council

4. Consideration and possible action to review the Fiscal Year (FY) 2023-24\nyear-end estimates and the FY 2024-25 Preliminary Citywide Budget. (Ramos/\nLoya) (30 mins)\nRecommendation: (1) Review the FY 2023-24 year-end estimates and\napprove Budget Adjustments in the General Fund by reducing the budget in\nthe amount of $808,700 in Non-Personnel and by $200,000 in Transfers-Out\nbased on the third quarter year-end estimates; (2) Review the Preliminary FY\n2024-25 Budget for the General Fund and affirm the changes since the April\n18 Budget Workshop: • Increase the General Fund Revenues by $230,600. •\nIncrease the General Fund Non-Personnel Expenditure by $80,000. • Adjust\nTransfers-Out: i. Decrease Transfers-Out by $30,000. ii. Increase Capital\nInfrastructure Program (CIP) by $1,400,000 from FY 2022-23 available\nunallocated fund balance as affirmed by the City Council at the April 18 Budget\nWorkshop. iii. Retain the estimated FY 2024-25 unallocated balance of\n$266,650 instead of transferring it to the CIP Fund. (3) Review and approve\nthe FY 2024-25 Preliminary Citywide Budget consisting of the Capital\nInfrastructure Program (CIP) Fund and program list, Special Revenue Funds,\nPermanent Funds, and Internal Service Funds; and, (4) Direct staff to return\non June 18, 2024 for the budget public hearing and budget adoption\nconsideration.\nAgenda Report