HomeMy WebLinkAbout2004-11-17 - AGENDA REPORTS - FY 2004-05 MIDYEAR BUDGET (2)Agenda Item
CITY OF SANTA CLARITA
INTEROFFICE MEMORANDUM
TO: Mayor Kellar & Councilmembers
FROM: Ken Pulskamp, City Manager �, q
DATE: November 17, 2004
SUBJECT: FISCAL YEAR 2004-05 MIDYEAR BUDGET REVIEW
RECOMMENDED ACTION
City Council review and discuss the "Unmet Priorities List," as well as look at other
priorities that need to be addressed through the midyear process, and their impact on the
City's General Fund.
BACKGROUND
Each year at this time, City staff takes the opportunity to evaluate the adopted budget and
the economic outlook for the remainder of the year. It is critical to perform the midyear
review of the budgetary and financial position to ensure that any deviations from the
initial budget projections are addressed in a manner which is proactive rather than
reactive. It is also at this time that staff reviews its priorities and requests appropriations
for activities that have become a priority, but are not currently funded.
During the last budget process, the City went through its budget process faced with
uncertainties with regard to the state's budget crisis. Due to those uncertainties, the City
Council adopted a conservative budget, with the assumption that $6.0 million in general
fund revenues were at risk. Since budget adoption, we now have a clearer picture of our
revenue outlook for the remainder of the year. The state has adopted its budget, and
Proposition 1 A passed by an overwhelming margin.
Through the 2004-05 budget process, an "Um -net Priorities List" was developed. This list
represented projects and programs that would be recommended for funding once we had
a handle on how the state's budget woes would impact Santa Clarita. Now that we know
where we stand, I am recommending the City Council fund most of the projects on that
list.
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D�en\FY 2004-05 Budget Review