DATE: February 25, 2025
TO: Mayor and City Council
FROM: Assistant City Manager
SUBJECT
Title
FY 24-25 Mid-Year Budget Review: Adopt a Resolution Approving the FY 24-25 Mid-Year Budget Amendments; and Receive and Review the Five-Year General Fund Financial Model Update
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RECOMMENDATION
Recommendation
That the City Council 1) Reviews the FY 24-25 Mid-Year budget; 2) Adopts a resolution providing amendments to the previously adopted City of Hayward FY 24-25 Operating Budget (Attachment II); and 3) Adopts a resolution providing amendments to the previously adopted City of Hayward FY 24-25 Capital Improvement Program Budget (Attachment III).
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SUMMARY
This report presents the mid-year review of the FY 24-25 Adopted Budget, and an update to the Five-Year General Fund Financial Model (model) presenting proposed changes and projected year-end results based on current trends and data. While staff considers the entire City budget in its mid-year review, this report focuses primarily on the General Fund.
Proposed FY 24-25 mid-year expenditures net a total increase of $1.56 million in General Fund expenses. Table 1 details the key changes in General Fund expenditure related to previous City Council authorized and approved appropriations and carryforwards and Table 2 details proposed new FY 24-25 mid-year requests:
TABLE 1: PREVIOUS CITY COUNCIL AUTHORIZED AND APPROVED GENERAL FUND APPROPRIATIONS & CARRYFORWARDS
Previous Council Approved Appropriations & Carryforwards
FY 24-25 Impact ($)
Appropriations
$1,185,183
Carryforwards
$3,640,787
Previous Council Approved Appropriations Subtotal
$4,825,970
TABLE 2: PROPOSED NEW FY 2024-25 GENERAL FUND MID-YEAR REQUESTS
Mid-Year Request (NEW)
FY 24-25 Impact ($)
Retired Annuitant for District-based election development
$14,470
Personnel Expenses
$14,470
Print cost and notices for the transition to District-based elections and the 2024 Presidential Election
$50...
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