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18. <br />THE CITY OF <br />pL~E~S~NTONo CITY COUNCIL AGENDA REPORT <br />1 <br />June 17, 2008 <br />Finance Department <br />TITLE: ADOPT A RESOLUTION ACCEPTING THE FY2008-09 MID-TERM <br />OPERATING BUDGET AND CAPITAL IMPROVEMENT PROGRAM <br />SUMMARY <br />The 2008-09 Mid-Term Update provides updated budget estimates for the 2008-09 year <br />of the two-year Operating Budget and Capital Improvement Program originally adopted <br />by City Council in June 2007. Updated estimates are based on staffs assessment of <br />current financial conditions for the second year of the two-year budget cycle and new or <br />modified capital projects. The 2008-09 Mid-Term Update document is available to the <br />public in the Office of the City Clerk, the Pleasanton Library, and also on the City web <br />page. <br />RECOMMENDATION <br />Staff is recommending the adoption of the 2008-09 Mid-Term Update of the 2007-08 & <br />2008-09 Operating Budget and Capital Improvement Program. <br />FINANCIAL STATEMENT <br />The financial impact of this action is outlined in the Operating Budget Fiscal Overview <br />and Executive Summary on page 5 of the document and also in Section II -Capital <br />Improvement Program on page 47 of the document. <br />