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k CITY OF SAN LEANDRO MEMORANDUM DATE: April 28, 1998 TO: City Council FROM: City Council Finance Committee (Councilmembers Glaze and Lothrop and Mayor Corbett) SUBJECT: Finance Committee Recommendations - 1998-99 Budget Strategies M0 R8-3d 05 (lost Attached you will find the City Council Finance Committee's recommended Budget Strategies for the 1998-99 City Budget. These Strategies have been developed as the recommended policy foundation for the preparation of next fiscal year's City budget. The City Council is scheduled to review the recommendations and give final approval for the Budget Strategies on May 4, 1998. The recommendations cover all the financial issues identified in the Mid -Year Budget Report and by the City Council. Included in this Finance Committee report are the following elements: 1. Recommended Budget Strategies, 1998-99. 2. Capital Improvement Program (Draft), 1998-99. 3. Minutes, Finance Committee Meetings from February and April 1998. BACKGROUND The Budget Strategies give direction for many of the policy issues facing the City for 1998-99. Other elements of next year's budget anticipate maintaining critical base levels of City activity. Several new programs will be proposed for implementation in 1998-99, based on both the Finance Committee's recommendation and proposals of the operating departments. Economic indicators for San Leandro show steady improvement and growth. The dire economic challenges the City faced between 1992 and 1995 have been weathered. Actions taken during these years, while difficult at the time, helped create the more stable financial condition anticipated for 1998-99.