AgdaPkt 2019-06-10 Joint SA PFA - Laserfiche WebLink

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9.A. - Page 1 of 17 /<�ik Redwood CitylCallifornia Faunded 1867 \:3aAW DATE: June 10, 2019 SUBJECT STAFF REPORT To the Honorable Mayor and City Council From the City Manager Fiscal Year 2019-20 Budget Study Session and setting the date for the Public Hearing and Adoption of the Budget RECOMMENDATION Receive and provide direction regarding the Recommended Budget for Fiscal Year 2019-20; adopt a Resolution setting June 24, 2019 as the date for the Public Hearing on the Adoption of the Recommended Budget, directing copies of the Recommended Budget to be filed with the City Clerk, and authorizing and directing the City Clerk to publish notice of the availability of the Recommended Budget and the date of the public hearing STRATEGIC INITIATIVE Government Operations BACKGROUND In accordance with the City Charter, the Fiscal Year (FY) 2019-20 City of Redwood City Recommended Budget is submitted for City Council's consideration. On February 25, 2019, the City Council held a Study Session on the development of the Recommended Budget and provided feedback to staff. The Recommended Budget addresses the City Council's strategic priorities and policy direction on fiscal sustainability by relying on ongoing revenue to fund ongoing expenses, using one-time revenues for one-time expenses, maintaining adequate reserves, and addressing long-term liabilities. The City Council has a history of taking intentional, proactive, and strategic steps to ensure the long-term fiscal sustainability of the City, including adopting a structurally balanced annual budget, funding long- term needs, and maintaining a 15 percent General Fund reserve level. In addition, the City has taken many steps towards strengthening the City's financial position and increasing transparency and operating efficiencies citywide. Those steps include: City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 633