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<br />May 2, 2017 meeting the matter was referred to the Economic Development Infrastructure, <br />Budget and Technology Council Committtee for review at the request of staff by a vote of <br />5-0 (Pulido and Solorio absent). <br /> <br /> RECOMMENDED ACTIONS: <br /> <br /> <br />1.Approve the revised Budget and Financial Policies, which includes the following <br />elements (Requires 5 affirmative votes): <br /> <br />a.Operating Reserve - Modify the operating reserve to require a range of <br />two months (16.67%) to a maximum of 20% operating reserve. Provide <br />language that operating reserves cannot be used to cover budgetary <br />shortfalls unless a fiscal emergency or fiscal crisis is declared by the City <br />Council. <br /> <br /> <br />b.One Time Revenue - Allow the use of one-time revenue to offset <br />structural deficits for one-year. Additionally, approve the use of one- <br />time revenue for a concurrent second year, subject to two-thirds approval <br />by the City Council. <br /> <br /> <br />c.Updated Terminology - Amend the current policy to include <br />terminology utilized in the Budget and Fiscal Policy consistent with the <br />terms utilized in the City’s Comprehensive Annual Financial Report. <br /> <br /> <br />2.Alternative Option - Do not approve revisions to the existing Budget and <br />Financial Policies. Direct staff to develop a budget in accordance to the existing <br />policy for Council consideration. <br /> <br /> <br />PUBLIC HEARINGS <br /> <br />75A-1. FISCAL YEAR 2017-2018 MISCELLANEOUS FEE RESOLUTION {STRATEGIC <br />PLAN 4, 2A} – Finance and Management Services <br /> <br />Legal Notice published in the Orange County Reporter on May 26, 2017 and June 2, 2017. <br /> <br /> RECOMMENDED ACTION: Adopt a resolution. <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />ESTABLISHING A UNIFORM SCHEDULE OF MISCELLANEOUS FEES FOR <br />FISCAL YEAR 2017-2018 <br /> <br /> <br />75A-2. ADOPTION OF CITY BUDGET FISCAL YEAR 2017-2018; THE SEVEN-YEAR <br />CAPITAL IMPROVEMENT PROGRAM (CIP) FROM FISCAL YEAR 2017-2018 <br />THROUGH 2023-2024; AMEND AND RE-ESTABLISH THE CITY’S BASIC <br />COMPENSATION PLANS {STRATEGIC PLANO NO. 4, 2A} – Finance and <br />Management Services <br /> <br />Legal Notice published in the Orange County Reporter on May 26, 2017 and June 2, 2017. <br />CITY COUNCIL AGENDA 12 JUNE 6, 2017 <br /> <br /> <br />