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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />FEBRUARY 17, 2015 <br />TITLE: <br />ADOPTION OF FISCAL YEAR 2015 -16 <br />FORECAST AND REVIEW OF <br />FOUR YEAR PROJECTIONS <br />(STRATEGIC PLAN NO. 4,2) <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />, * taJ <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1" Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt the forecast for fiscal year 2015 -16 and review of the four -year projections. <br />DISCUSSION <br />The City's fiscal position and forecast continues to demonstrate improvement for the current fiscal <br />year. The most recently completed quarter projects general fund revenues exceeding previously <br />budgeted projections. The revised five -year forecast and projections includes moderate sales tax <br />and property tax growth, as well as increased revenue projections in permit fees and plan check <br />activity for fiscal year 2015 -16. Overall, the forecast allows for a balanced budget and a positive <br />forecast over the next five years. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #4 City Financial Stability, Objective <br />#2 (provide a reliable five -year financial forecast that ensures financial stability in accordance with <br />the strategic plan). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. However, adoption of the forecast would <br />allow continuous funding for the Strategic Plan and planning for the upcoming fiscal year 2015 -16 <br />budget. <br />http: / /www.santa- ana.ora /finance /budget /default.asp <br />65C -1 <br />