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B. Fiscal Year 2004/2005 Budget (501) Financial Services Director Ponty explained that the ordinance to introduce the budget that City Council reviewed and conceptually approved at the June 21 and 28 study sessions is before the Council. As a result of Council direction, at the end of September or early October staff will return with $1 million dollars of combined options for increasing revenues and reducing expenditures in the General Fund. The Redevelopment Agency being a separate legal entity will have its budget presented later in the agenda for separate consideration. Mayor Ira opened the public hearing. No public comment received. M/S Ruskin /Bain to close the public hearing. The motion passed by a unanimous voice vote. M/S Howard /Pierce to introduce the ordinance adopting the 2004/2005 budget. AN ORDINANCE OF THE CITY OF REDWOOD CITY ADOPTING THE FINAL BUDGET OF THE CITY OF REDWOOD CITY FOR THE FISCAL YEAR JULY 1, 2004 - JUNE 30, 2005; PROVIDING FOR THE APPROPRIATION AND EXPENDITURE OF ALL SUMS SET FORTH IN SAID BUDGET; PROVIDING FOR EMERGENCY EXPENDITURES, TRANSERS, ADDITIONAL APPROPRIATIONS, CANCELLATIONS AND REAPPROPRIATIONS OF EXISTING APPROPRIATIONS; ADOPTING THE BUDGET FOR GENERAL IMPROVEMENT DISTRICT NO. 1 -64 FOR THE FISCAL YEAR JULY 1, 2004 - JUNE 30, 2005; MAKING PROVISION FOR INTERIM EXPENDITURES AS OF JULY 1, 2004; AND REPEALING ORDINANCE NO. 2256, AND ALL ORDINANCES AND RESOLUTIONS IN CONFLICT HEREWITH The motion passed by a unanimous roll call vote by those present with Council Member Hartnett absent. MNUTE ORDER 04 -138 M/S Howard /Ruskin to adjourn the Board of Equalization Meeting. The motion passed by a unanimous voice vote by those present. JOINT CITY COUNCIL AND REDEVELOPMENT JULY 12, 2004 AGENCY MEETING AND JOINT STUDY SESSION PAGE 6 WITH PLANNING COMMISSION AND ARCHITECTURAL REVIEW COMMITTEE MINUTES MINUTES Book No. 60 Page No. 262