HomeMy WebLinkAboutStaff Report 2402-2681CITY OF PALO ALTO
CITY COUNCIL
Special Meeting
Monday, May 13, 2024
Council Chambers & Hybrid
5:30 PM
Agenda Item
3.FY 2025 Proposed Operating and Capital Budget - Finance Committee Update and Council
Budget Discussion
City Council
Staff Report
From: City Manager
Report Type: STUDY SESSION
Lead Department: Administrative Services
Meeting Date: May 13, 2024
Report #:2402-2681
TITLE
FY 2025 Proposed Operating and Capital Budget - Finance Committee Update and Council
Budget Discussion
RECOMMENDATION
This study session is intended to facilitate next steps in the FY 2025 Budget process. Facilitation
of a forum for Finance Committee to discuss with the City Council the status of FY 2025 budget
review in preparation for the Committee’s budget wrap-up work on May 21, 2024.
Staff recommends that the City Council:
• Review the current proposed budget adjustments to the Fiscal Year 2025 Proposed
Operating and Capital Budgets and Municipal Fee Schedule in alignment with the work
completed by the Finance Committee on May 7, and 8, 2024;
• Review the areas of focus for the City Council as identified by the Finance Committee
and staff; and
•Provide feedback to the Finance Committee on any areas of focus or additional
deliberations to review as part of the Budget Wrap-up Meeting scheduled for May 21,
2024.
ANALYSIS
Due to the meeting schedules, this memorandum precedes the Finance Committee review of
the FY 2024 Proposed Operating and Capital Budgets and Municipal Fee Schedule, scheduled
for May 7 and 8. Staff will a provide a Supplemental Memo prior to May 13th as necessary and
as time permits to support a discussion on the Finance Committee proposed adjustments to the
FY 2025 budgets and/or Municipal Fee schedule.
FY 2025 Budget documents are referenced below:
- FY 2025 City Manager Proposed Budget Transmittal Letter
- FY 2025 Proposed Operating Budget
- FY 2025 Proposed CIP Budget
- Budget Transmittal to City Council (May 6, 2024) – Agenda Report
- Finance Committee Review of Proposed Budgets (May 7 and May 8, 2024) Agenda
Report
- Finance Committee Review of Proposed Municipal Fee (May 8, 2024) Agenda Report
As new materials are released during the Finance Committee review, all materials can be found
on www.cityofpaloalto.org/budget
FISCAL/RESOURCE IMPACT
This report is a study session for the City Council to review the Finance Committee’s analysis
and tentatively recommended changes to the FY 2025 Proposed Budget. No financial impacts
will occur as a result of this report; however, recommendations from this study session will
inform the Finance Committee’s final recommendations for adjustments to the FY 2025
Proposed Budgets to the City Council for adoption on June 17, 2024.
STAKEHOLDER ENGAGEMENT
On May 15, 2024, the City will conduct a virtual Budget Informational Session with community
members to share information about the FY 2025 budget process and receive input from the
community for the City Council to consider regarding priorities and service needs.
ENVIRONMENTAL REVIEW
This activity is not a project under California Environmental Quality Act (CEQA) as defined in
CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or
reasonably foreseeable indirect physical change in the environment.
APPROVED BY:
Kiely Nose, Assistant City Manager