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8.A. - Page 1 of 104 <br />/<�ik <br />Redwood <br />CitylCallifornia <br />Faunded 1867 <br />A,&/ <br />DATE: October 26, 2020 <br />SUBJECT <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />Adopt City of Redwood City Fiscal Year (FY) 2020-21 Revised Budget <br />RECOMMENDATION <br />From the City Manager <br />1. Hold a public hearing; and <br />2. Adopt a resolution adopting the revised budget of the City of Redwood City for Fiscal Year July 1, 2020 <br />—June 30, 2021 and providing for the appropriation and expenditure of all sums set forth in said budget. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Excellence in Government Operations <br />BACKGROUND <br />On May 4, 2020, the City Council conceptually approved a financial and community recovery strategy in <br />response to the COVID-19 crisis, which served as the foundation for the Proposed Fiscal Year (FY) 2020- <br />21 Recommended Budget which the City Council provided direction regarding on June 8, 2020, and <br />adopted on June 22, 2020 the staff report for which may be found here. At that time, staff recommended <br />that the FY 2019-20 Adopted Budget roll over to FY2020-21, and that we return to the City Council in <br />October 2020 to adjust expenditures when the revenue picture is clearer. While forecasts remain muddied <br />by a chaotic year, we have a clearer perspective to revise our budget for the remainder of the fiscal year <br />and refine our strategic direction. <br />Page 1 of 4 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />370 <br />