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<br /> <br />6A <br /> <br />'- <br /> <br />I <br /> <br />pLEASANTONc <br /> <br />City Council <br />Staff Report <br /> <br />June 20, 2006 <br />City Manager <br /> <br />SUBJECT <br /> <br />APPROVAL OF BUDGET AMENDMENTS TO THE FY 2005-06 MID <br />YEAR BUDGET, THE FY 2006-07 MID TERM BUDGET AND THE <br />CAPITAL IMPROVEMENT PROGRAM FOR FY 2005-06 <br />THROUGH 2008-09 <br /> <br />STAFF RECOMMENDATION: <br /> <br />Approve the attached resolution adopting the Mid-Term Budget and Capital <br />Improvement Program <br /> <br />SUMMARY <br /> <br />In June 2005, the City Council adopted a two-year operating budget and <br />Capital Improvement Program (CIP) for Fiscal Years 2005-06 and 2006-07. <br />With the end of the first year nearing, staff has prepared a Mid-Term <br />Budget update, which includes amendments to both the 2005-06 and 2006- <br />07 budgets along with incorporating recent City Council decisions for the <br />CIP. <br /> <br />Honorable Mayor and Members of the City Council: <br /> <br />BACKGROUND <br /> <br />In June 2005, the City Council adopted a two-year Operating Budget and Capital Improvement <br />Program (CIP) for Fiscal Years 2005-06 and 2006-07. With the end of the first year nearing, <br />staff has prepared a Mid-Term Budget update. Typically, this update would include amendments <br />to the 2nd year budget and any changes to the CIP. For this budget, staff has also included <br />amendments to the current 2005-06 operating budget, rather than submitting a separate report to <br />City Council for changes to the I sl year of the operating budget. Changes to the first year of the <br />two-year budget for 2005-06 are referred to as 2005-06 Mid-Year amendments. Changes to the <br />second year of the two-year budget for 2006-07 are referred to as 2006-07 Mid-Term <br />amendments. <br /> <br />SR06:l53 <br />Page I of7 <br />