TITLE:
title
FISCAL YEAR 2024-25 PROPOSED BUDGET STUDY SESSION
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DEPARTMENT: CITY MANAGER'S OFFICE, FINANCE DEPARTMENT
PRESENTED BY: LORI ANN FARRELL HARRISON, CITY MANAGER, CAROL MOLINA, FINANCE DIRECTOR
CONTACT INFORMATION: CAROL MOLINA, FINANCE DIRECTOR, (714) 754-5243
RECOMMENDATION:
recommendation
Conduct a Study Session regarding the Fiscal Year 2024-25 Proposed All Funds Budget of $240.1 million, with a General Fund component of $189.9 million, and provide initial feedback and direction to staff in advance of final adoption of the budget by June 30, 2024.
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BACKGROUND:
The Fiscal Year 2024-25 Proposed Budget includes collaboration efforts throughout all sectors, including public safety, parks, facilities, streets and housing for the City of Costa Mesa residents, businesses, and visitors. Recommended budget adjustments contained in the Proposed Budget were prudently selected based on operational needs, the provision of essential core services to our community, and to implement the City Council's stated Goals and Priorities more effectively.
Guiding Principles
The guiding principles that inspired the recommendations for the FY 2024-25 Proposed Budget were created when the City Council conducted a Strategic Planning workshop identifying key priorities, as well as a new Mission Statement for Costa Mesa, as follows:
"The City of Costa Mesa serves our residents, businesses, and visitors by promoting a safe, inclusive, and vibrant community."
In addition, the City Council has developed five Strategic Plan Goals:
? Strengthen the Public's Safety and Improve the Quality of Life;
? Achieve Long-Term Fiscal Sustainability;
? Recruit and Retain High Quality Staff;
? Diversify, Stabilize, and Increase Housing to Reflect Community Needs; and
? Advance Environmental Sustainability and Climate Resiliency.
The recommendations contained in the FY 2024-25 Proposed Budget are rooted in the Strategic Plan Goals created by the City Council for a safe, i...
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