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12 <br /> THE CITY OF <br /> CITY COUNCIL AGENDA REPORT <br /> pL£ ASANTON. <br /> June 15, 2010 <br /> Finance Department <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE FY2010 -11 MID -TERM <br /> BUDGET AND CAPITAL IMPROVEMENT PROGRAM <br /> SUMMARY <br /> The 2010 -11 Mid -Term Update provides updated budget estimates for the 2010 -11 year <br /> of the two -year Operating Budget and Capital Improvement Program originally adopted <br /> by City Council in June 2009. Updated estimates are based on staff's assessment of <br /> current financial conditions for the second year of the two -year budget cycle and new or <br /> modified capital projects. The 2010 -11 Mid -Term Update document is available to the <br /> public in the Office of the City Clerk, the Pleasanton Library, and also on the City web <br /> page. <br /> RECOMMENDATION <br /> Staff is recommending the adoption of the 2010 -11 Mid -Term Update of the 2009 -10 <br /> 2010 -11 Operating Budget and Capital Improvement Program. <br /> FINANCIAL STATEMENT <br /> The financial impact of this action is outlined in the Operating Budget Fiscal Overview <br /> and Executive Summary on page 7 of the document and also in Section II Capital <br /> Improvement Program on page 45 of the document. <br />