Title:
Title
FY2019/20 Proposed Budget Overview and Funding Options for Inclusive Economic Development [To Be Delivered]
End
FileID
File ID: 2019-00514
Location
Location: Citywide
Recommendation:
Recommendation
Receive and consider for final budget adoption.
Contact: Howard Chan, City Manager, (916) 808-7488, Office of the City Manager; Dawn Holm, Director, (916) 808-5574, Daniel Choe, Interim Budget Manager, (916) 808-5049, Department of Finance
Body
Presenter: Dawn Holm, Director, (916) 808-5574, Department of Finance; John Colville, City Treasurer, (916) 808-8297; and Susana Alcala Wood, City Attorney, (916) 808-5346
Attachments:
1-Description/Analysis
2-Attachment 1_Budget and Audit Proposed Budget Overview Report
3-Attachment 2_General Fund 5-Year Forecast
4-Attachment 3_Measure U 5-Year Forecast
5-Attachment 4_Innovation and Growth 5-Year Forecast
6-Attachment 5_Goldman Sachs Revenue Bond Estimates
Description/Analysis
Issue Detail: The City Charter, Article IX Section 111, requires the City Manager to deliver budget recommendations to the City Council no later than 60 days prior to the start of the new fiscal year. This report transmits the FY2019/20 Proposed Operating Budget (Budget) and the 2019-2024 Capital Improvement Program (CIP), which includes the FY2019/20 CIP budget. These documents are available at http://www.cityofsacramento.org/finance/budget. The Budget was presented to the Budget and Audit (B&A) Committee on April 30, 2019 (Attachment 1). As proposed, the Budget serves as a framework for the City's efforts to successfully bolster and expand the delivery of vital core services while also focusing on Council's commitment to inclusive economic development and increased youth programming.
On April 30, the B&A Committee directed staff to prepare separate forecasts for the General and Measure U Funds. Those forecasts, provided as Attachments 2 and 3, also identify the City Manager's recommended investments in key Council prio...
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