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THE CITY OF <br /> 26^^ <br /> CITY COUNCIL AGENDA REPORT <br /> PL£ASANTONe <br /> June 2, 2015 <br /> City Manager <br /> TITLE: REVIEW OF THE TWO YEAR OPERATING BUDGET FOR FISCAL YEARS <br /> 2015-16 AND 2016-17 AND THE FOUR YEAR CAPITAL IMPROVEMENT <br /> PROGRAM FOR FISCAL YEARS 2015-16 THROUGH 2018-19 <br /> SUMMARY <br /> Every two years the City adopts a two year operating budget and a four year Capital <br /> Improvement Program (CIP) (collectively, the "Budget"). Prior to adoption of the Budget, <br /> staff has traditionally presented the document to the City Council in a public meeting for <br /> the purpose of facilitating public comment, addressing any Budget related questions and <br /> receiving any direction regarding amendments or additional information. As such, this <br /> item is intended to be a dialogue between the Council, the public and staff regarding the <br /> Budget. <br /> STAFF RECOMMENDATION <br /> Review the Two Year Operating Budget and the four year Capital Improvement Program, <br /> and provide staff with direction regarding any issues or amendments to address prior to <br /> formal Council action scheduled for June 16, 2015. <br /> FINANCIAL STATEMENT <br /> City Budget expenditures for fiscal years 2015-16 and 2016-17 are $177,986,360 and <br /> $183,270,553 respectively for the Operating Budget and $21,973,254 and $22,061,569 <br /> for the Capital Improvement Program. Staff intends to make individual presentations for <br /> both of the budgets providing detail on the Budget including revenues and expenditures. <br />