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• <br /> submitted for the City Council to review before adopting the two-year Operating and <br /> Capital Budget and approving the four-year CIP. <br /> CONCLUSION <br /> The two-year Operating and Capital Budget is balanced. The Budget provides funding <br /> for the programs and goals identified as priorities by the City Council. <br /> Staff recommends that the City Council adopt the Budget as presented. Staff will <br /> continue to monitor the progress of the economy, keep track of actual revenues and <br /> expenditures and report back to the City Council during the mid-year budget reviews <br /> and a more detailed FY 2024/25 mid-term update with recommended adjustments <br /> based on latest trends and more up-to-date information. <br /> Submitted by: Approved by: <br /> tt Susan Hsieh Gerry Beaudin <br /> Director of Finance City Manager <br /> Attachments: <br /> 1. Resolution adopting the two-year Operating and Capital Budget and approving the <br /> four-year Capital Improvement Program <br /> Exhibit A: Revised FY 2023/24 and FY 2024/25 Operating Budget book <br /> Exhibit B: FY 2023/24 and FY 2024/25 Capital Budget & FY 2023/24 through FY <br /> 2026/27 Capital Improvement Program book <br /> Exhibit C: Recommended Reserve Policy <br /> Page 3 of 3 <br />