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BACKGROUND <br /> The City of Pleasanton prepares a biennial operating budget. On June 17, 2015, <br /> the City Council adopted the biennial operating budget for FY 2015/16 and FY <br /> 2016/17. The Mid-Term Budget Review updates the FY 2016/17 operating budget. <br /> DISCUSSION <br /> The operating budget update includes adjustments to a number of funds including <br /> the General Fund, Enterprise Funds, Internal Service Funds, and Special Revenue <br /> Funds. Adjustments to the General Fund include updated projections for property <br /> tax, hotel tax, developer fees, contributions to the replacement plan, adjustments to <br /> inter-fund charges and updated personnel cost estimates. As a result of these <br /> adjustments, the General Fund operating budget remains balanced at $105.4 <br /> million with reserves of$20.1 million. <br /> Attached for Council's review is City of Pleasanton FY 2016/17 Mid-Term Update <br /> (Attachment 2). <br /> Submitted by: Approved <br /> /4/ <br /> Tina Olson Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments: <br /> 1. FY 2016/17 Mid-Term Operating Budget Resolution <br /> 2. City of Pleasanton FY 2016/17 Mid-Term Update1 <br /> 1 Note: This document was previously distributed to Council. <br /> Page 2 of 2 <br />