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<br />". . . 'IE' 'p" . 0"" ..'PI"":T .' <br />. .... ...... <br />. ,',/'.. "-":.'. .',. ....'. <br />"': . :~::: ~ . . '. ',.. I: <br />. . '. <br /> <br />8A <br />.. ... ........ ....... . .... ... ... . . ... .. .... .... ... .., .. . Page 1 <br /> <br /> <br />. ..:.'. . '.. . ." . '. '. .. ". . . <br /> <br />.. . '.. ..~Tothe :tlollorab'le::I\II~y()r...~~t.t.'::Qity. qo~ncil <br />'. '. .. "" '<:From~thEf.Gi" >'I)IIal1. . 'e~ <br /> <br />July 13. 2009 <br /> <br />SUBJECT <br />Fiscal Year 2009-10 Budget <br /> <br />ReCOMMENDATION <br />By resolution, adopt the Fiscal Year 2009-10 budget. <br /> <br />BACKGROUND <br />On June 15th and 22nd the City Council held budget study sessions at which times the <br />Council reviewed the recommended FY 2009-10 budget as submitted by the City <br />Manager and directed staff to bring this budget to the Council on July 13, 2009 for <br />adoption. <br /> <br />Given the uncertainty surrounding the general fund revenues, particularly with respect <br />to potential actions by the State which could result in severe reductions in property tax <br />revenues or gas tax revenues, staff will return to Council on September 14, 2009 and <br />present an update on the general fund's financial situation. Should significant <br />reductions in revenues materialize staff will also present further options - reduced <br />expenditures or increased revenues - at that time. <br /> <br />Attached is a summary of Council's direction and expectations for the September 14th <br />budget study session (attachment 2). <br /> <br />ALTERNATIVES <br />Council may elect to make changes to the budget as submitted or direct staff to explore <br />certain options and bring those options back to Council for consideration. Deferring the <br />adoption of this budget will delay the organization's ability to pursue objectives which <br />are dependent upon the funding provided by this budget. <br /> <br />FISCAL IMPACT <br />There are sufficient resources available - in projected opening fund balances and <br />anticipated revenues - to support the expenditure appropriations contained within this <br />budget. <br /> <br />13jP~ <br /> <br />Brian ponty I <br />Director of Finance <br /> <br />~/5u-.R-fur~~~ <br /> <br />Peter Ingram <br />City Manager. <br /> <br />ATTACHMENTS <br />1. Resolution Adopting the Final Budget for FY 2009-10 <br />2. Council Direction - Summary of June 15, 2009 City Council Study Session #1 <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />1. City of Redwood City FY 2009-10 Recommended Budget Amendments <br />