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<br />New CIP projects recommended in FY 2017-18 amount to $38.3 million and are funded <br />from the Capital Outlay Fund, Transportation Fund, Transportation Grants Fund, Traffic <br />Mitigation Fees Fund, Parks Impact Fees Fund and In Lieu Fees Fund, Water Capital <br />Projects Fund, and Sewer Capital Projects Fund. <br /> <br />City Council adoption of the Five-Year CIP is scheduled for June 26, 2017. <br /> <br />Budget Adoption <br /> <br />The City Charter requires that the City Council establish the date for the public <br />hearing of the budget and establish by resolution the date for final adoption of the <br />budget. The proposed date for the public hearing and adoption of the budget is June <br />26, 2017, which is included in the attached Resolution. The budget will be presented to <br />the Council for adoption with any revisions identified. <br /> <br />ALTERNATIVES <br />The City Council may direct staff to make adjustments to the FY 2017-18 <br />Recommended Budget. <br /> <br />FISCAL IMPACT <br />The FY 2017-18 Recommended Budget for all funds totals $267.2 million in revenues <br />and $267.0 million in expenditures. The General Fund portion of the budget is $131.6 <br />million. <br /> <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 for resulting in either a direct physical change or a <br />reasonably foreseeable indirect physical change in the environment. <br /> <br />ATTACHMENTS <br />1. Resolution setting June 26, 2017 Public Hearing <br />2. A copy of the FY 2017-18 Recommended Budget is available online or in the City <br />Clerk’s Office <br /> <br /> <br /> <br />KIMBRA MCCARTHY <br />ASSISTANT CITY MANAGER - ADMINISTRATIVE SERVICES <br /> <br />8.D. - Page 7