Title
Fiscal Year 2004 Budget Adoption.
Discussion
On August 12, 2004, the proposed budget for Fiscal Year 2005 (FY 05) was delivered by the
Mayor to the City Council and community for consideration. Workshops and hearings were set for
August 17, August 24, and September 7, 2004. Should they be necessary, hearings are also
scheduled for September 14, September 21, and September 28, 2004. During the scheduled
workshops and hearings, budget presentations were made by departments, and the community
was provided opportunities for input.
At the conclusion of the hearings, the City Council will be asked to amend the proposed budget as
it deems appropriate, and to adopt the proposed budget as amended. Since the publication of the
FY 05 Proposed Budget, further adjustments have been made including those needed to address
the financial actions of the State, and to revise revenue and expenditure projections. Necessary
expense changes addressing technical corrections and omissions are listed in Attachments A and
B of the Appropriations Ordinance.
The Appropriations Ordinance officially adopts the FY 05 budget and authorizes expenditures in
confomance with the adopted budget. To become effective October 1, 2004, this Ordinance must
include a finding of emergency. Specific Resolutions also provide for approval of the budgets for
the Harbor, Sewer and Water funds; certain fee adjustments; FY 05 Capital Improvement Projects
budget; request for the Redevelopment Agency to accelerate $1.3 million of loan repayments to
the General Fund; endorsement of the Updated Three-Year Financial Strategic Plan; and, approval
of the Mayor’s and the Budget Oversight Committee’s recommended amendments to the FY 05
Proposed Budget.
This letter was reviewed by Assistant City Attorney Heather A. Mahood on August 30,2004.
Timing Considerations
[Timing Considerations]
Fiscal Impact
[Fiscal Impact]
SUGGESTED ACTION
Adopt the Resolution approving the FY 05 bu...
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