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CONCLUSION AND RECOMMENDATION <br />The proposed two-year Operating Budget is balanced, and consistent with the City's <br />fiscal policies and past practices. The budget funds mandatory increases, provides <br />funding for the programs and goals identified as priorities by the City Council, continues <br />funding for the CIP, and maintains reserve levels. <br />Staff recommends that the Council adopt the budget plan as presented. Staff will <br />continue to monitor the progress of the economy, review revenues and expenditures <br />quarterly, and report back to the Council if and when additional decisions are required <br />throughout the two budget years. Furthermore, a detailed mid-term review will be <br />conducted and presented to Council in June 2008. <br />Submitted by: <br />G ~.~.~~ <br />David P. Culver <br />Director of Finance <br />Approve by: <br />Nelson Fialho <br />City Manager <br />Attachments: <br />1. Resolution <br />2. Attachment A -Recommended Operating Budget Summary Tables <br />3. Attachment B -Community Development Block Grant Program 2007-08 <br />4. Attachment C -Budget Message <br />Page 7 of 7 <br />