TITLE
Recommendation to adopt a motion approving the FY 19 budget for the Long Beach Community Investment Company in the amount of $2,936,263. (A-7)
DISCUSSION
On July 31, 2018, the City Manager’s Proposed Budget for Fiscal Year 2019 (FY 19) was delivered by Mayor Garcia to the City Council and community for consideration. Budget meetings were held on December 19, 2017, February 6, August 7, August 14, August 21, and September 4, 2018, along with Budget Oversight Committee (BOC) meetings, and community meetings throughout August and September at which the FY 19 Proposed Budget was discussed. As a result of these meetings, there were more than 18 scheduled opportunities for public feedback, deliberation, and input. Additionally, input was solicited through the Long Beach Budget Priority Survey to obtain feedback on what the City’s priorities should be. The survey was promoted on the City’s website, along with OpenLB, which shows the budget visually, through Twitter and Facebook, and at the community meetings.
At the conclusion of the hearing, the City Council will amend the proposed budget as it deems appropriate, and adopt the proposed budget as amended. Since the publication of the FY 19 Proposed Budget, updated estimates of FY 19 revenues and expenses, which primarily address technical corrections, are listed by fund and department in Attachments B, C and D to this letter. The reasons for the adjustments are discussed at the end of this letter.
There are three Ordinances in Attachment A. The first approves Resolution No. WD-1392 (A-3), which establishes the rates and charges for the water and sewer service. The second is the Appropriations Ordinance (A-17), which officially adopts the FY 19 budget and authorizes expenditures in conformance with the adopted budget. For these two Ordinances to become effective on October 1, 2018, the City Council must first declare an emergency to exist before adopting each Ordinance (A-2 and A-16). The third Ordinance am...
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