TITLE
Recommendation to receive supporting documentation into the record, conclude the public hearing, and take the actions necessary to adopt the Fiscal Year 2008 budget. (Citywide)
DISCUSSION
On August 2, 2007, the City Manager's Proposed Budget for Fiscal Year 2008 (FY 08) was delivered by the Mayor to the City Council and community with recommended amendments for consideration. Workshops and hearings were set for August 14, August 20, August 21, September 4, and September 11, 2007. During the scheduled workshops and hearings, presentations have been made by departments, and the City Council and community were provided multiple 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 08 Proposed Budget, updated estimates of revenue and expense, which address technical corrections, are listed by department and fund in Attachments B and C of this letter, respectively.
The Appropriations Ordinance officially adopts the FY 08 budget and authorizes expenditures in conformance with the adopted budget. To become effective October 1, 2007 this Ordinance must include a finding of emergency. Specific resolutions provide for approval of the budgets for the Harbor, Sewer and Water funds; and certain fee adjustments. Requests for approval include the FY 08 Capital Improvement Program;
endorsement of the updated Financial Strategic Plan; and, the Mayor's and Budget Oversight Committee's recommended amendments to the FY 08 Proposed Budget.
This letter was reviewed by Assistant City Attorney Heather A. Mahood on August 27,2007.
TIMING CONSIDERATIONS
In accordance with the Long Beach City Charter, the FY 08 budget must be adopted by September 15, 2007, following at least one public hearing. Should the City Council fail to adopt the budget on or by that date, the City Manager's FY 08 Proposed Budget shall b...
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