For City Council Meeting June 11, 2024
TO: Honorable Mayor and City Council
FROM: G. Michael Milhiser, Interim City Manager
AUTHOR: Mark Alvarado, Interim Finance Director
Title
Request City Council to Set a Public Hearing for June 25, 2024, to Approve and Adopt the Budget Plan for Fiscal Year 2024-2025
Body
RECOMMENDATION
Staff recommends that the City Council to Set a Public Hearing for June 25, 2024, to Approve and Adopt the Budget Plan for Fiscal Year 2023-24.
BACKGROUND
In accordance with Section 2.04.140 of the Rialto Municipal Code, the City Council approves annually the proposed budget. Under the direction of the Director of Finance the Finance Division conducts the analysis and makes the projections required to complete the budget document after receiving input from all the City departments. The process begins in March and requires the cooperation of staff organization-wide.
ANALYSIS/DISCUSSION
In accordance with Section 2.04.140 of the Rialto Municipal Code, staff will present the full budget plan for Fiscal Year 2024-2025 at the public hearing set for June 25, 2024. The budget submitted is a one-year financial plan, for which an appropriation is submitted concurrently with the budget document. The budget presentation will consist of eight categories of funds as follows:
* General Fund
* Special Revenue Funds
* Enterprise Funds
* Internal Service Funds
* Rialto Utility Authority
* Rialto Housing Authority
* Capital Projects Funds
* Debt Service Funds
General Fund
This is the general operating fund of the City. All general tax receipts and fee revenue not allocated by law, Council policy, or contractual agreement to other funds, are accounted for in the General Fund. General Fund expenditures include operations traditionally associated with activities that are not required to be accounted for or paid by another fund.
Special Revenue Funds
The City's various special revenue funds include grant program funds and other funds that by law...
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