RES 93107 - Laserfiche WebLink

quarter financial report. Increase Park Dedication fees by $82,000, bringing the projected ending fund balance to $933,769. SUMMARY: The City of Pleasanton annually adopts an Operating Budget and the first year of its five-year Capital Improvement Program. Staff is recommending the adoption of the 1993-94 Operating Budget. Adoption of the Capital Improvement Program budget will be recommended in a separate staff report. Honorabie Mayor and Members of the Council: BACKGROUND The proposed budget is the City's comprehensive financial plan for all programs and services for fiscal year 1993-94. Staff is recommending that the budget be adopted as · presented. As a result of the adoption of the State budget, the most recent estimate of Pleasanton's additional property tax loss is $1 million annually (with a one-time transfer of State transportation money which reduces this year's impact to $721,000). This represents a $3.2 million total loss of property tax revenue in the past two years. This revenue has been transferred from the City to the State for funding of schools. OVERVIEW To meet the challenge of presenting a balanced budget during a time of economic slowdown nationwide and locally, staff has for the third year in a row presented essentially a status quo budget. Subsequent actions will include continuing to review position vacancies on a case-by-case basis, exploring revenue enhancements and cash management policies, and analyzing the service level document in more detail. From the Wtal $55.6 million in Fiscal Year 1993-94 projected revenues, staff is recommending the following uses: $51.3 million operating expenditures 1.1 million net operating transfers to Miscellaneous CIP .9 million to CIP for Capital Projects 2.3 million transfers to Water and Sewer Replacement Funds $55.6 million total expenditures, and transfers to the CIP Overall, Fund Balances (reserves) will be increased by only $21,645. SR 93:332 2