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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />June 27, 2016 <br />SUBJECT <br />Fiscal Year 2016-17 Budget Adoption <br /> <br />RECOMMENDATION <br />Adopt a resolution adopting the Fiscal Year 2016-17 Budget <br /> <br />BACKGROUND <br />On February 22, 2016, the City Council provided direction on the development of the <br />Fiscal Year (FY) 2016-17 budget, asking staff to develop budget recommendations <br />which addressed Council interests in five major categories: housing, transportation, <br />maintaining and enhancing community services, community engagement and funding <br />long term liabilities. At the April 25, 2016 budget study session, staff provided updated <br />budget assumptions, a five year general fund forecast, and received Council <br />endorsement for a four–phase budget strategy (the report is available at Budget Study <br />Session 4-25-16.PDF). On June 13, 2016, the City Council held a study session for the <br />Council to review the published recommended FY 2016-17 budget (Recommended <br />Budget FY 16-17) submitted by the City Manager. After reviewing the recommended <br />budget, the City Council directed no changes to the budget as submitted. <br /> <br />ANALYSIS <br />The proposed general fund budget of $111,728,844 and other funds budget of <br />$112,225,009 is now submitted for City Council adoption. The recommended budget <br />reflects the Council’s priorities and provides the resources to advance the City’s <br />Strategic Initiatives. In addition, the Capital Improvement Program is summarized in the <br />Recommended Budget document, and totals $32,339,226. <br /> <br />The recommended budget includes the addition of a net 7.5 positions, of which 3.5 full <br />time equivalent would be ongoing positons, while 4 FTE would provide short term <br />assistance. The funding recommendations used to frame this budget are to provide <br />sufficient resources for each Department to accomplish their individual missions. <br />Detailed revenue, expenditure and economic vulnerabilities are available in the <br />Recommended FY 2016-17 Budget and discussed in the Transmittal Letter. <br /> <br />A copy of the recommended budget is on file with the City Clerk for public review and is <br />also available on the City’s website at www.redwoodcity.org/budget. <br /> <br /> <br /> <br />8.A. - Page 1