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THE CITY OF 1 0 <br /> CITY COUNCIL AGENDA REPORT <br /> pLEASANTON, <br /> June 5, 2018 <br /> Finance <br /> TITLE: ADOPT A RESOLUTION ACCEPTING THE FY 2018/19 MID-TERM <br /> OPERATING BUDGET <br /> SUMMARY <br /> The FY 2018/19 Mid-Term Update provides updated operating budget estimates for <br /> the FY 2018/19 of the two-year Operating Budget originally adopted by City Council <br /> in June 2017. Updated estimates are based on staff's assessment of current <br /> financial conditions for the second year of the two-year budget cycle. <br /> RECOMMENDATION <br /> Staff is recommending Council adopt the resolution accepting the FY 2018/19 Mid- <br /> Term Operating Budget. <br /> FINANCIAL STATEMENT <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 all funds reflect current economic conditions including <br /> recommendations that maintain a balanced budget and current service levels. As a <br /> result of these adjustments, the General Fund operating budget remains balanced <br /> at $114.8 million with reserves of $24.8 million. <br />