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Proposed Fiscal Year 2021-22 City Budget, Changes to the City’s Basic Classification <br />and Compensation Plan and the Seven-Year Capital Improvement Program <br />June 1, 2021 <br />Page 7 <br />1 <br />7 <br />7 <br />4 <br />Results indicate the General Fund will have a short-term 2% deficit in FY22-23 and FY23- <br />24, and a larger deficit in FY28-29 when the Measure X tax rate decreases. <br />Capital Improvement Program (CIP) <br />The May 18 City Council agenda packet included the proposed Capital Improvement <br />Program for FY21-22, which is the first year of the seven-year document. The Planning <br />Commission reviewed the entire seven-year document on May 25th and found it compliant <br />with the City’s General Plan. <br />Exhibit 6 includes the full CIP document. Year 1 includes $57.4 million of new spending <br />as part of the proposed FY21-22 Budget, entirely funded with restricted money. Due to <br />budgeting for multi-year projects, staff expects to request City Council approval this fall <br />to carryover significant unspent CIP appropriations from FY20-21 to FY21-22. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action.