City Council Agenda
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Memo to: |
Manteca City Council |
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From: |
Toni Lundgren, City Manager |
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Prepared by: |
Lana McBroom, Acting Budget Manager |
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Date: |
June 4, 2024 |
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Subject: |
Conduct a Budget Study Session for the Proposed Fiscal Year 2024-25 Annual Budget |
Recommendation:
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Receive a presentation on the Proposed Fiscal Year 2024-25 Budget; review, discuss and take action on items in the Proposed Fiscal Year 2024-25 Budget and instruct the City Manager and Finance Director regarding the final budget.
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Background:
The proposed budget currently includes the following:
Personnel Changes totaling $579,742:
• 5 new positions
• 4 position reclassifications
• 2 equity adjustments
• 1 defunded position
Capital Improvements:
• additional appropriations to 34 existing projects totaling $35,288,006
• 38 new projects totaling $25,753,681
Overall Proposed Budget
It’s important to point out that one-time expenses, such as capital projects, do not contribute to operating deficits because they are not ongoing costs that require continuous funding. The proposed budget includes 61 million in one-time costs. The City is, therefore, proposing a balanced budget.
Fiscal Impact:
Any changes to funding from the Fiscal Year 2024-25 Proposed Budget due to discussion at the budget study session and/or modifications proposed by staff will be reflected in the final budget to be presented for approval during a public hearing on June 18, 2024.
Documents Attached:
Attachment 1 - Fiscal Year 2024-25 Proposed Budget Book
Attachment 2 - Budget Study Session Presentation