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CC:HA:PA:SA - FOUR-FIFTHS VOTE REQUIREMENT - (1) Receipt and Filing of the Fiscal Year 2015/2016 Mid-Year General Fund Budget Monitoring Report, (2) Receipt and Filing of the General Fund Financial Forecast, (3) Provide Notification to the Public Inviting Comment and Input for the Upcoming Proposed Budget for Fiscal Year 2016/2017, and (4) Approval of Proposed Budget Amendments.
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Contact Person/Dept: Jeff Muir, Finance
Phone Number: (310) 253-5865
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Public Hearing: [] Action Item: [X] Attachments: Yes [X] No []
Commission Action Required: Yes [] No [X]
Public Notification: (Email) Meetings and Agendas - City Council (02/18/16); (Email) Ongoing Topics - Fiscal and Budget Issues (02/18/16)
Department Approval: Jeff Muir, Chief Financial Officer (02/16/16)
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RECOMMENDATION
Staff recommends the City Council and Boards of the Culver City Housing Authority, Culver City Parking Authority, and Successor Agency to the Culver City Redevelopment Agency (1) receive and file the Fiscal Year 2015/2016 Mid-Year Budget Monitoring Report, (2) receive and file the General Fund Financial Forecast, (3) provide notification to the public inviting comment and input for the upcoming Proposed Budget for Fiscal Year 2016/2017, and (4) approve related budget amendments.
A budget amendment requires a 4/5ths vote.
BACKGROUND/DISCUSSION:
Mid-Year and Forecast Reports
The attached Mid-Year Budget Monitoring Report (Mid-Year Report) presents the City Council with a snapshot of General Fund, Enterprise Funds, and Internal Service Funds expenditures and revenues through the first half of Fiscal Year 2015/2016, which began on July 1, 2015. Other funds are performing within expectations and are not a part of this report. The attached Gene...
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