SUBJECT/RECOMMENDATION:
Title
Amend the City’s fiscal year 2017/18 Operating and Capital Improvement Budgets at first quarter and pass Ordinances 9131-18 and 9132-18 on first reading.
Body
SUMMARY:
The fiscal year 2017/18 Operating and Capital Improvement Budgets were adopted in September 2017 by Ordinances 9076-17 and 9077-17. 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. Staff has provided a memorandum and a report that outline the issues at first quarter that require amendment.