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AGENDA ITEM REVIEW FORM

7.A.

Regular City Council Meeting

Meeting Date:: 06/14/2023
Department Head:: Monica Castro
Submitted By:: Roula Encinas, Accountant, Finance Department

Action Requested:

Motion

ITEM:

Discussion and possible action on any and all matters regarding the acceptance and approval of the Tentative Budget for Fiscal Year 2023-2024. (Monica Castro, Director of Finance)

SUMMARY:

Pursuant to state statute, the City Council is required to adopt a tentative budget to set the maximum ceiling for expenditures. Prior to the final adoption of the Fiscal Year 2023-2024 budget, City Council may reallocate expenditures and revenues among departments differently than set forth in the tentative budget and may decrease expenditures as well.

On 05/31/2023, a Council session was held to review Capital Project & Personnel for FY2024. On 04/28/2023 and 04/29/2023, the Budget Retreat was held. The administrative staff has compiled the data from the council sessions for expected revenues and expenditures/expenses for the Fiscal Year 2023-2024. The tentative budget is now submitted for City Council’s acceptance.

RECOMMENDATION / SUGGESTED MOTION:

I MOVE TO APPROVE THE TENTATIVE BUDGET FOR THE FISCAL YEAR 2023-2024 AS PRESENTED.

Fiscal Impact

IS THERE FISCAL IMPACT ASSOCIATED WITH THIS ITEM:: N/A
CITY/STATE/FEDERAL FUNDS:: N/A
TOTAL:: N/A
BUDGETED AMOUNT:: N/A
AVAILABLE AMOUNT TO TRANSFER:: N/A
ACCT NAME & GL#/REMAINING BALANCE BEFORE PURCHASE:: N/A

FISCAL IMPACT STATEMENT (IF THIS IS A BUDGET TRANSFER, YOU MUST ATTACH THE BUDGET ADJUSTMENT FORM):

There is no fiscal impact associated with this item.

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