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9.A. - Page 7 of 17 <br />Only the recommended FY 2020-21 CIP budget is aligned with anticipated revenue and staffing, and will <br />be requested for budget approval. The remaining fiscal years of the Five -Year CIP are for planning <br />purposes, with projects beyond FY 2020-21 largely unfunded at this point. No budget approval for future <br />fiscal years is requested at this time. <br />The table below provides a snapshot of the recommended Five -Year CIP by functional area. <br />Functional Area <br />Estimated 5 -yr cost <br />Facilities <br />$ 47,355,000 <br />Parking <br />565,000 <br />Parks/ Recreation <br />8,150,000 <br />Redwood Shores Levee/Lagoon <br />4,600,000 <br />Sewer <br />39,850,000 <br />Stormwater <br />16,430,000 <br />Technology <br />6,908,916 <br />Transportation <br />236,936,861 <br />Water <br />34,700,000 <br />Grand Total <br />$ 395,495,777 <br />Successor Agency to the Former Redevelopment Agency <br />Included in the FY 2020-21 Recommended Operating Budget presented to Council on June 8 was a <br />budget for the Successor Agency. This budget appears in the Fiduciary Funds section, pages 192-193. <br />The budget provides the necessary resources to finance the Successor Agency's obligations of $3.7 <br />million that will come due in FY 2020-21 <br />After reviewing the FY 2020-21 Recommended Operating Budget for the Successor Agency, the City <br />Council directed no changes to the budget as submitted. <br />FISCAL IMPACT <br />Adopting the FY 2020-21 Recommended Operating Budget will provide authority for staff to continue <br />municipal operations, including the development and construction of capital projects this coming fiscal <br />year. General Fund revenues are budgeted at $148.3 million and General Fund expenditures are <br />budgeted at $142.7 million. In addition, the Recommended Operating Budget includes revenues of <br />$144.6 million and expenditures of $149.9 million in all other funds. As described above, staff will return <br />to the City Council in October with proposed modifications to the Recommended Operating Budget using <br />Page 7 of 9 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />442 <br />