Laserfiche WebLink
THE CITY OF 10A <br /> CITY COUNCIL AGENDA REPORT <br /> PL£ASANTONa <br /> June 17, 2014 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE 2014/15FY MID-TERM <br /> OPERATING BUDGET <br /> SUMMARY <br /> The 2014/15FY Mid-Term Update provides updated operating budget estimates for the <br /> 2014/15FY of the two-year Operating Budget originally adopted by City Council in June <br /> 2013. Updated estimates are based on staffs assessment of current financial <br /> conditions for the second year of the two-year budget cycle. <br /> RECOMMENDATION <br /> Staff is recommending Council adopt the resolution accepting the 2014/15FY Mid-Term <br /> Update of the Operating Budget. <br /> FINANCIAL STATEMENT <br /> The operating budget update includes adjustments to a number of funds including the <br /> General Fund, Enterprise Funds, Internal Service Funds, and Special Revenue Funds. <br /> Adjustments to all funds reflect current economic conditions including recommendations <br /> that maintain a balanced budget and current service levels. As a result of these <br /> adjustments, the General Fund operating budget remains balanced at $97.119 million <br /> with reserves of$13.042 million. <br />