HomeMy WebLinkAboutAgenda Packet - February 26, 2007 '�K 1
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AZUSA
AGENDA ITEM
TO: THE HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
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FROM: ALAN KREIMEIER, DIRECTOR OF ADMINISTRATIVE SERVICES/ CFO
VIA: F. M. DELACH, CITY MANAGER,e
DATE: FEBRUARY 26, 2007
SUBJECT: FISCAL YEAR 2007 MID-YEAR BUDGET REVIEW
RECOMMENDATION
There is no recommendation. Staff will be providing a presentation at the meeting in
order to provide Council with an update of the City's fiscal condition in preparation
for the upcoming budget process.
BACKGROUND
The FY 2006-07 Budget was adopted in June of 2006 with an operating surplus in the
City's General Fund. Since this time, events have occurred which impact the City's
finances. The purpose of the mid-year review is to identify and explain these impacts
to the Council and to seek direction with respect to both the remainder of the current
fiscal year and the preparation of the budget for the upcoming year.
Based upon the direction received from Council at the workshop, staff will prepare
necessary actions to implement any changes and provide them to Council for
approval.
FISCAL IMPACT
There is no fiscal impact as a result of this staff report.
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