REPORT TO COUNCIL
SUBJECT
Title
Study Session: Review of the Proposed FY 2022/23 & FY 2023/24 Biennial Capital Improvement Program Budget and FY 2022/23 Operating Budget Changes and Review of Proposed FY 2022/23 Municipal Fee Schedule Changes to Library Community Room Rental Fees
Report
COUNCIL PILLAR
Enhance Community Engagement and Transparency
BACKGROUND
City Charter Section 1302 Budget - Submission to City Council requires that at least thirty-five days prior to the beginning of each fiscal year, or at such prior date thereto determined by the City Council, the City Manager shall submit to the City Council the proposed budget.
On February 8, 2022, the City Council held a Priority Setting Session which confirmed the following City Council Strategic Pillars:
1. Promote and Enhance Economic, Housing and Transportation Development
2. Deliver and Enhance High Quality Efficient Services and Infrastructure
3. Enhance Community Sports, Recreational and Arts Assets
4. Enhance Community Engagement and Transparency
5. Ensure Compliance with Measure J and Manage Levi's Stadium
6. Manage Strategically our Workforce Capacity and Resources
7. Promote Sustainability and Environmental Protection
As part of the Council Priority Setting, the City Council also adopted FY 2022/23 Budget Principles. These Budget Principles provide a framework for budget review and development, ensuring fiscal stability by considering both the short and long-term impacts of any funding decisions. The principles were modified to acknowledge the drop of the Budget Stabilization Reserve (BSR) to 15% of expenditures in FY 2022/23. The FY 2021/22 and FY 2022/23 Biennial Operating Budget assumed the drop in the BSR below the policy level of 25% of expenditures as a budget balancing action. The Budget Principles can be found in the Budget and Fiscal Policies section of the Proposed Budget document.
This budget continues the biennial budget process that alternates between an operating and capit...
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