Title
Staff Report for the Public Hearing and Adoption of the Proposed 2017-18 and 2018-19 Biennial Budget for the City of San Leandro, the Successor Agency to the Redevelopment Agency of the City of San Leandro, and the San Leandro Public Financing Authority
Staffreport
SUMMARY AND RECOMMENDATION
Staff recommends that the City Council conduct a public hearing and take public testimony regarding the City Manager's Proposed Biennial Budget, for fiscal years 2017-18 and 2018-19. At the conclusion of the public hearing and after Council's deliberations, staff requests that Council provide final direction regarding the 2017-18 and 2018-19 proposed Biennial Budget adoption.
Specifically, staff recommends that the City Council approve the following Resolutions to adopt the City Manager's fiscal years 2017-18 and 2018-19 Proposed Biennial Budget as reviewed by City Council on May 15, 2017:
1. Resolution adopting the Biennial Budget of the City of San Leandro for fiscal years 2017-18 and 2018-19.
2. Resolution adopting the Biennial Budget for the Successor Agency to the Redevelopment Agency of the City of San Leandro (SARA) for fiscal years 2017-18 and 2018-19.
3. Resolution adopting the Biennial Budget of the Public Financing Authority of the City of San Leandro for fiscal years 2017-18 and 2018-19.
BACKGROUND
On May 15, 2017, the City Manager presented the Proposed Biennial Budget for 2017-18 and 2018-19. The Biennial Budget represents the City's fundamental financial planning and communications tool, describing how resources are allocated to implement Council policies and goals, as well as providing the legal basis for the expenditure of public funds.
Overall, the Biennial Budget expenditures proposed for 2017-18 and 2018-19 total $198.6 million and $186.7 million, respectively. The City's General Fund accounts for $114.4 million in 2017-18, and $115.1 million in 2018-19. The SARA is $10.5 million and $4.0 million for 2017-18 and 2018-19, respectively...
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