HomeMy WebLinkAboutStaff Report 157-07City of Palo Alto
City Manager’s Report
TO:
FROM:
HONORABLE CITY COUNCIL
/
CITY MANAGER DEPARTMENT: ADMINISTRATIVE
SERVICES
DATE:
SUBJECT:
FEBRUARY 26, 2007 CMR: 157:07
RECOMMENDATION FOR COUNCIL TO REVIEW AND
COMMENT ON PRELIMINARY REVENUE ENHANCEMENTS
AND EXPENSE REDUCTIONS TO ADDRESS THE $3 MILLION
INFRASTRUCTURE FUNDING CHALLENGE
RECOMMENDATION
Staff recommends that Council review and comment on the preliminary list of revenue
enhancements and expense reductions to address the $3 million infrastructure funding challenge.
BACKGROUND
In April 2006, the City Council approved the milestones for its "Top 3" priority, Increase
Infrastructure Funding (CMR:191:06). The milestones included reviewing options to increase
General Fund infrastructure funding by $3 million a year through a combination of expenditure
reductions and revenue enhancements.
DISCUSSION
The Finance Committee held an initial discussion of options on May 23, 2006 and directed staff
to return to the City Council for further discussion. A study session with the City Council was
held on June 20, 2006, where the most likely options were discussed (CMR:270:06). On
October 17, 2006 the Finance Committee reviewed these options for incorporation into the
2007-17 Long Range Financial Forecast (CMR:375:06), which included an initial view of how
the recommendations might impact the 2007-09 budget.
With the 2007-09 budget process now underway staff is presenting the options for enhancing
revenue and decreasing expense in the General Fund to the City Council for further consideration
before incorporation into the 2007-09 proposed budget.
PREPARED BY:
DAVID RAMBERG
Budget Manager
CMR:157:07 Page 1 of 2
DEPARTMENT HEAD:
irector o~Administrative Services
CITY MANAGER APPROVAL:
Assistant City Manager
CMR: 157:07 Page 2 of 2