RES 00071A - Laserfiche WebLink

Date: May 23, 2000 To: Mayor Tarver and Members of the City Council From: Deborah Acosta, City Manager Subject: Mid -Term Review of the City's Operating Budget and Five Year Capital Improvement Program (CIP) THE CITY OF wm PLEASANTON• MEMORANDUM In June 1999, the City Council adopted the two year operating budget with the understanding that a "Mid- Term" review would be performed in the Spring of 2000. At the same time, the Council adopted the Five Year Capital Improvement Program (CIP) for FY 1999 00/2003 -04 and approved funding for projects in the first two years of the program with an understanding FY 2000 -2001 would be reviewed prior to the start of the new budget year. In response to the above, this Mid -Term budget document is submitted for Council review and approval. To streamline and consolidate the review process, similar to previous years, both the Operating Budget and the CIP are included in this document. For organizational purposes, Section I of this document pertains primarily to the Operating Budget while Section II pertains primarily to the Capital Improvement Program. Because staff approached the Mid -Term review with the intent on maintaining the planning integrity of the two year funding process used for both the Operating Budget and the CIP, it did not extensively re- prioritize capital improvement and/or operating expenditures. Rather, it was determined that the FY 2000/2001 budget approved by the Council in June 1999 would, when possible, be adhered to for the upcoming year. However, to reflect changes in revenues and required expenditures, it is necessary to make a number of amendments to the adopted budgets. To that end, the recommended amendments in this document result primarily from the following: Modifications to revenue projections resulting from changes in the economy New equipment and services to meet the needs of operating departments