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THE CITY OF <br /> ::;: r CITY COUNCIL AGENDA REPORT <br /> PLEASANTON. <br /> May 31, 2022 <br /> Finance <br /> TITLE: REVIEW OF FY 2022/23 MID-TERM OPERATING BUDGET & CAPITAL <br /> IMPROVEMENT PROGRAM DRAFT BUDGET <br /> SUMMARY <br /> The FY 2022/23 Mid-Term Update provides adjusted operating budget estimates for FY <br /> 2022/23 of the two-year Operating Budget originally adopted by City Council in June <br /> 2021. Updated estimates are based on staff's assessment of current financial <br /> conditions for the second year of the two-year budget cycle. The Capital Improvement <br /> Program has been reviewed to ensure that revenues are available to fund approved <br /> projects, to amend, add or delete new and existing projects to be consistent with the <br /> current funding, workloads, and scheduling; to ensure consistency with adopted City <br /> Council priorities; and to meet community expectations. <br /> RECOMMENDATION <br /> Staff is recommending Council review the draft budget and provide direction if any <br /> changes should be made to the draft FY 2022/23 Mid-Term Operating Budget & Capital <br /> Improvement Program. Staff intends to bring forward the final budget for Council <br /> approval at the regularly scheduled City Council meeting on June 21, 2022. <br /> FINANCIAL STATEMENT <br /> Review of the draft budget has no financial impact to the City. <br /> Page 1 of 4 <br />