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RECOMMENDED BUDGET STRATEGIES, 1996-97 Page 4 The critical financial situation confronting the Marina Fund requires careful monitoring to insure timely implementation of policy decisions of the City Council. For this reason, the Committee recommends a series of designated "trigger" events which will result in updated status reports to the City Council. These events include the failure to obtain Federal financial assistance on dredging costs, completion of the analysis of various alternatives for lowering the cost of dredge material removal and approval of the construction of the hotel and the business conference center. REVENUE ADJUSTMENTS 7. State Budget Reductions The 1996-97 Budget Strategies make no allowance for potential State actions directly impacting the City's budget. Over a period of years, the State has systematically reduced major revenues previously allocated to cities. City property tax revenues have been reduced by nearly $2 million since 1992-93. Maintaining a prudent Reserve for Economic Uncertainty is vital since a further State raid on traditional City revenues appears possible. STRATEGIES REQUIRING FURTHER REVIEW AND RECOMMENDATION 8. San Leandro Downtown/ Business Support Program Current economic development activities promote business retention and new business development within the City. The 1996-97 Budget Strategies recommend continuation of current funding levels with emphasis on promoting partnership elements between the City, Chamber of Commerce, Manufacturer's Association, Downtown Business Association and other business groups. This Budget Strategy reflects Committee action based on information available at this time. City staff will meet with these organizations to determine the cost/benefits from joint promotional opportunities such as the Farmers Market and the temporary ice skating rink. This issue will be re-evaluated by the Finance Committee in April as a final budget proposal. -- 8