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City of San Leandro <br />City Council <br />Meeting Date: May 6, 2024 <br />Agenda Number: 5.f. <br />Agenda Section: RESPECTFULLY <br />SUBMITTED: <br />___________________________________ <br />Kelly B. Clancy, CMC <br />City Clerk for the City of San Leandro <br />File Number: 24-145 <br />File Type: Staff Report <br />Adopt a Resolution to Approve the Fiscal Year 2023-2024 Mid-Year Financial Report as of December <br />31, 2023 <br />CITY COUNCIL PRIORITY <br />·Fiscal Sustainability and Transparency <br />SUMMARY <br />The 2023-2024 Mid-Year Financial Report is for information only. <br />RECOMMENDATION <br />Staff recommends the City Council adopt a resolution to approve the 2023-2024 Mid-Year <br />Financial Report as of December 31, 2023. <br />BACKGROUND <br />The City Council approved the 2023-2024 and 2024-2025 General, Enterprise, Internal Service, <br />and Parking Fund budgets on May 15, 2023. The approved budgets feature the annual <br />expenditure and resource allocation plan that guides the implementation of City Council budget <br />policies and priorities. The budget provides funding direction for a broad range of services that <br />meet the needs of the community in accordance with City Council policies. <br />This financial review provides the mid -year budget update to the City Council for the current fiscal <br />year. Analysis of the revenues collected and all expenditures through December 31, 2023, <br />measures operational adherence to the budget allocation plan. <br />Analysis <br />2023-24 Mid-Year Financial Report <br />The City budget for 2023-2024 was adopted in May 2023. The budget incorporates current <br />estimates for revenue and expenditure appropriations for all funds as of December 31, 2023. <br />The attached 2023-2024 Mid-Year Financial Report as of December 31, 2023, provides the <br />Page 1 City of San Leandro Printed on 4/19/2024