File #: RPT 24-086   
Section: Informational Report Status: Agenda Ready
Meeting Body: Council Budget and Finance Committee
Agenda Date: 10/29/2024 Final action:
Subject: General Fund Budget Balancing Strategies
Attachments: 1. Attachment I Staff Report
Date Action ByActionResultAction DetailsMeeting DetailsVideo
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DATE:                     October 29, 2024

 

TO:                     Council Budget and Finance Committee

 

FROM:                     Director of Finance

 

SUBJECT

 

General Fund Budget Balancing Strategies

 

RECOMMENDATION

 

That the Committee reviews and receives the high-level overview of varying budget balancing strategies.

 

SUMMARY

 

The City of Hayward continues to review and plan for ongoing structural deficits that have led to the use of General Fund reserves over the last two years, and currently projected into the future. In anticipation of a continued need to use reserves to balance the General Fund, the City is reviewing potential fiscal policies to both enhance revenue growth and reduce expenditures. The following report summarizes some general concepts and strategies related to both revenue enhancements and expenditure reductions and realignments.

 

ATTACHMENTS

 

Attachment I                                          Staff Report