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8.A. - Page 24 <br /> Although fiscal years 2017-18 and beyond currently indicate operating deficits, there are <br /> many moving parts for both revenues and expenditures. Each year, staff will develop <br /> balanced budget recommendations based on current economic conditions. <br /> Next Steps <br /> Following City Council discussion of the recommended strategy and direction to staff, <br /> staff will develop the proposed budget, which will be the subject of a June 13, 2016 <br /> study session. A public hearing and adoption of the FY 2016-17 budget is planned for <br /> June 27, 2016. <br /> ALTERNATIVES <br /> The City Council may direct staff to modify the proposed strategy. <br /> FISCAL IMPACT <br /> The development of the budget strategy was accomplished within existing resources. <br /> ENVIRONMENTAL REVIEW <br /> This activity is not a project under CEQA as defined in CEQA Guidelines, section <br /> 15378, because it has no potential resulting in either a direct or foreseeable physical <br /> change in the environment. <br /> +� <br /> MELISSA STEVENSON DIAZ <br /> CITY MANAGER <br /> 24 <br />