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9.A. - Page 14 of 17 <br />Traffic Mitigation Fees Fund, Parks Impact Fees Fund, Parking Operations Fund, Parking In -Lieu Fees Fund, <br />Water Capital Projects Fund, and Sewer Capital Projects Fund. <br />A Five -Year CIP is prepared for City Council review annually and is recommended for adoption with the <br />Recommended Budget on June 24, 2019. The Five -Year CIP provides a longer-term perspective on needed <br />capital investments and is a fiscal and strategic tool to plan, fund, prioritize, and monitor capital <br />investments in the community. The Five -Year CIP includes the proposed capital budget for FY 2019-20, as <br />well as planned project needs for FY 2020-21 through FY 2023-24. The proposed Five -Year CIP includes <br />102 projects with an estimated cost of $293.7 million. <br />Budget Adoption <br />The City Charter requires that the City Council establish the date for the public hearing of the budget and <br />establish by resolution the date for final adoption of the budget. The proposed date for the public hearing <br />and adoption of the budget is June 24, 2019, which is included in the attached Resolution. The budget <br />will be presented to the Council for adoption with any revisions identified. <br />FISCAL IMPACT <br />The FY 2019-20 Recommended Budget for all funds totals $301.6 million in revenues and $290.0 million <br />in expenditures. The General Fund portion of the budget is $157.4 million. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />PUBLIC NOTICE <br />Public Notification was achieved by posting the agenda, with the agenda items being listed, at least 72 <br />hours prior to the meeting. <br />ALTERNATIVES <br />The City Council may direct staff to make adjustments to the FY 2019-20 Recommended Budget. <br />ATTACHMENTS <br />Attachment A: Resolution setting June 24, 2019 Public Hearing <br />Attachment B: FY 2019-20 Recommended Budget is available online here or in the City Clerk's Office <br />REPORT PREPARED BY: <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />646 <br />