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75D-1 - PH - REAFFIRM AND REVISE 14-15 CITY BUDGET
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75D-1 - PH - REAFFIRM AND REVISE 14-15 CITY BUDGET
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6/26/2014 4:57:31 PM
Creation date
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
75D-1
Date
7/1/2014
Destruction Year
2019
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0 <br />CITY COUNCIL MEETING DATE: <br />JULY 1, 2014 <br />TITLE: <br />PUBLIC HEARING — REAFFIRM AND <br />REVISE THE FISCAL YEAR 2014 -15 <br />CITY BUDGET <br />�N <br />CITY Mf AGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1" Reading <br />❑ Ordinance on 2n' Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />IaIIQ04IIL61.321 <br />1. Adopt an ordinance appropriating monies for the fiscal year commencing July 1, 2014. <br />2. Adopt a Seven -Year Capital Improvement Program (CIP) from fiscal year 2014 -15 through fiscal <br />Year 2020 -21 per Orange County Transportation Authority (OCTA) Measure M2 eligibility <br />requirement. <br />DISCUSSION <br />On June 17, 2013, the Mayor and City Council approved the City's 2013 -15 two -year budget. The <br />2013 -15 budget fulfills the City's mission to deliver efficient public services in partnership with our <br />community which ensures public safety, a prosperous economic environment, opportunities for our <br />youth, and a high quality of life for residents. The primary fiscal objective is to establish the <br />foundation and base -line to build upon future budgets as well as community and organizational <br />needs. As such, this budget continues established objectives and strategies adopted under the <br />five -year Strategic Plan to move the City into long -term financial stability while maintaining core <br />programs and services to the extent possible. <br />The total annual proposed revised budget for fiscal year 2014 -15 is $430,987,112. The proposed <br />revisions incorporate all funded appropriations related to the General Fund, Internal Service, <br />Enterprise, Special, Community Development and Housing, Capital Improvement Projects and <br />Grant funding. The proposed revised 2014 -15 General Fund budget is estimated at $208.9 million <br />and equates to approximately 50% of the total annual proposed budget. The General Fund <br />supports those functions most commonly associated with city government such as police, fire, <br />recreation, library, planning and building, street maintenance and general city administration. <br />Additionally, the revised General Fund budget incorporates over $3M in funding for the five -year <br />strategic plan which is scheduled to commence July 1, 2014. <br />75D -1 -1 <br />
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