SUBJECT/RECOMMENDATION:
Title
Amend the City’s fiscal year 2024/25 operating and capital improvement budgets at third quarter and pass Ordinances 9851-25 and 9852-25 on first reading.
Body
SUMMARY:
The fiscal year 2024/25 operating and capital improvement budgets were adopted in September 2024 by ordinances 9793-24 and 9794-24. Section 2.521 of the City’s Code of Ordinances requires the City Manager to prepare a quarterly report detailing income, expenditure estimates, collections, the explanation of significant variances, as well as the financial status of all capital improvement projects. The attached memorandum and the accompanying report provide this information and outline the issues at third quarter that require amendment.
STRATEGIC PRIORITY:
The budgeting process aligns resource allocation to the advancement of our community in all five strategic priorities: high performing government, economic and housing opportunity, community well-being, environmental stewardship, and superior public service.