City Council

A. Budget Discussion Study Session – Review of the Proposed FY 2024-25 Operating\nand Capital Improvement Program Budgets\nThe purpose of the study session is for staff to present the Proposed FY 2024- 25\nBudget to City Council, answer related questions, and receive feedback on the\nproposal for possible adoption on June 27, 2024. The Proposed FY 2024-25 Budget\nfor all City operating expenditures is $ 51, 584, 100 and is comprised of three operating\nfund types ( General Fund, Special Revenue Funds, and Internal Service Funds). The\nCapital Improvement Program budget is $ 7, 649, 267 and includes funding for 2 new\nprojects, additional funding for 22 existing projects, and funding for 4 annual\nprojects. The Rosemead Housing Development Corporation ( RHDC) budget is\nproposed at $ 939, 520. The Successor Agency budget is presented as ` informational\nonly' and is set at $ 2, 554, 517 to cover debt service on the exiting bonds, operational\nshortfall and lease payments of the RHDC, and administrative costs.\nRecommendation: That the City Council review the Fiscal Year 2024- 25 Proposed\nOperating and Capital Improvement Program Budget as well as review the\nrecommended Fiscal Year 2023- 24 budget adjustments and provide staff direction.\nThe City Council will recess the special meeting and\nreconvene at the regular 7.•00 p.m. City Council meeting.\nlune 11, 2024\nSpecial & Regular Joint Meeting Agenda\nREGULAR MEETING\n7: 00 P. M.