City Council

2. CITY COUNCIL CONSIDERATION AND ADOPTION OF FISCAL YEAR 2024-\n25 BUDGET; AND RESOLUTION OF THE COUNCIL OF THE CITY OF\nBEVERLY HILLS ADOPTING THE ANNUAL APPROPRIATIONS LIMIT FOR\nTHE FISCAL YEAR 2024-25; AND\nRESOLUTION OF THE COUNCIL OF THE CITY OF BEVERLY HILLS\nAPPROVING THE BUDGET AND FINANCIAL POLICIES FOR FISCAL YEAR\n2024-25 AND APPROPRIATING FUNDS THEREFOR; AND\nRESOLUTION OF THE PARKING AUTHORITY OF THE CITY OF BEVERLY\nHILLS APPROVING THE BUDGET AND FINANCIAL POLICIES FOR FISCAL\nYEAR 2024-25 AND APPROPRIATING FUNDS THEREFOR; AND\nCONTINUED AUTHORIZATION TO OVERHIRE FIVE POLICE OFFICERS;\nAND\nCITY COUNCIL APPROVAL OF AMENDED AND RESTATED EXECUTIVE\nEMPLOYEE COMPENSATION PLAN.\nComment: This item requests that City Council adopt the resolutions for the Fiscal\nYear 2024-25 appropriations limit, operating and capital improvement program\nbudget and financial policies, and that the Board of Directors adopt the resolution\napproving the Fiscal Year 2024-25 operating budget and financial policies for the\nParking Authority. The City's financial policies include the delegation of authority to\nthe City Treasurer for a one-year period to invest or reinvest funds, and to sell or\nexchange securities purchased for and on behalf of the City. This item also requests\nan extension of the authorization to overhire five Police Officers and recommends\nthat the City Council approve the amended and restated Executive Employee\nCompensation Plan.