Update of City Finances and FY 2009 10 and 2010 11 Budget Process. City of Culver City California City Council Agenda Item Report Meeting Date: 03/30/09 AGENDA ITEM: Update of City Finances and FY 2009 10 and 2010 11 Budget Process. Item Number: A 3 Contact Person/Dept.: Jeff Muir Chief Financial Officer Fiscal Impact: Yes X No Phone Number: 310 253 6016 General Fund: Yes X No Attachments: X Action Item: X Public Hearing: X Public Notification: This Town Hall meeting has been announced at City Council Meetings quarter page advertisements have been placed in the Culver City Observer and the Culver City News on March 12 19 and 26; information signs were placed in 17 areas in Culver City Parks; the Official Notice of the Meeting was placed on City service counters and on the City s website; Three E Mail notifications Utilizing the Master E Mail Notification List were sent between March 2 and March 26 2009; Master E Mail Notification List (03/25/09) Department Approval: Jeff Muir (03/23/09) Chief Financial Officer Approval: Jeff Muir (03/23/09) City Attorney Approval: Carol Schwab (by H. Baker) (03/25/09) City Manager Approval: Jerry B. Fulwood (03/25/09) RECOMMENDATION: Staff recommends the City Council receive a brief update on the City s financial situation and the upcoming 2009 10/2010 11 budget process receive public input and direct staff as deemed appropriate. BACKGROUND/DISCUSSION: During the 2008 09 budget process City Council expressed a desire to provide input on budget priorities prior to the budget kickoff and give the community the opportunity to provide input. On March 9 2009 staff delivered a comprehensive update of the City s financial situation for all major funds as well as a preliminary overview of the upcoming 2009 10/2010 11 budget process. This matter has been included as part of the Town Hall Meeting in order to provide a further update and opportunity for the community to share their thoughts prior to the public meetings that are typically held ...
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