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CITY OF SAN LEANDRO STAFF REPORT Date: July 28, 1999 To: John Jermanis, City Manager From: Tim Hansen, Finance Director APPROVED AND FORWARDED TO CITY COUNCIL J hn ermIrO Jity Manager (\ O 99- 55 Subject: 1999-2000 Finance Committee Budget Amendment #1 Recommendations and Financial Goals Statement SUMMARY AND RECOMMENDATION The City Council Finance Committee is recommending that the Council approve an increase to the Budget in the General Fund in the amount of $284,568. A resolution amending the 1999-2000 budget been prepared for the City Council's August 2, 1999 agenda. Additionally, the Finance Committee recommends that the City Council adopt by motion the revised Financial Goals for the City. BACKGROUND The City Council's adoption of the 1999-2000 Budget was conditional pending Finance Committee review of proposed staff reductions and program eliminations. Subsequently, the State of California completed its budget process, which included return of some funds to local cities and counties. The Finance Committee has reviewed these service reductions in light of the estimated $284,558 in additional revenue from the State and has recommended a series of General Fund program and budget adjustments for full City Council approval. Additionally, the Finance Committee reviewed and updated the Financial Goals that are the basis of the decision making process during budget deliberations. The Financial Goals were first established during the 1989-90 budget process as "Financial Values". Current economic conditions and the changing operational needs of the organization require that this framework provide a firm focus for the preparation of the annual budget. . The City Council reviewed the Finance Committee's recommendations for the budget amendment and the proposed Financial Goals at Work Session on July 24, 1999 and directed staff to prepare the budget amendment. y 1 � ',