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