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CC - (1) Receive Presentation on Mid-Year Budget Monitoring Report and General Fund Financial Forecast, (2) Receipt and Filing of the Fiscal Year 2017/2018 Mid-Year Budget Monitoring Report, (3) Provide Notification to Public Inviting Comment and Input for the Upcoming Proposed Budget for Fiscal Year 2018/2019, (4) Approval of Proposed Blanket Purchase Order Amendments and (5) Approval of Proposed Budget Amendments (Four-Fifths Vote Requirement).
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Meeting Date: February 26, 2018
Contact Person/Dept: Jeff Muir/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Public Hearing: [] Action Item: [X] Attachments: [X]
Public Notification: (Email) Meetings and Agendas - City Council (02/20/18); (Email) Ongoing Topics - Fiscal and Budget Issues (02/20/18)
Department Approval: Jeff Muir, Chief Financial Officer (02/20/18)
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RECOMMENDATION
Staff recommends the City Council (1) receive a presentation from staff on the Mid-Year Budget Monitoring Report and General Fund Financial Forecast and (2) receive and file the Fiscal Year 2017/2018 Mid-Year Budget Monitoring Report, (3) provide notification to public inviting comment and input for the upcoming Proposed Budget for Fiscal Year2018/2019, (4) approve proposed blanket purchase order amendments, and (5) approve related budget amendments (budget amendment requires a 4/5ths vote).
BACKGROUND/DISCUSSION
Mid-Year Budget Monitoring Report and General Fund Financial Forecast
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 2017/2018, which began on July 1, 2017. Other City funds are performing within expectations and are not a part of this report. The General Fund ...
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