(1)AR 062309 Budget Balance - Laserfiche WebLink

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ITEM #1 CITY OF COLTON City Council Special Meeting AGENDA REPORT FOR JOINT MEETING OF CITY COUNCIL FOR THE CITY OF COLTON REDEVELOPMENT AGENCY FOR THE CITY OF COLTON AND COLTON UTILITY AUTHORITY MEETING OF JUNE 23, 2009 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL HONORABLE AGENCY CHAIRPERSON AND BOARD MEMBERS HONORABLE UTILITY AUTHORITY CHAIRPERSON AND BOARD MEMBERS FROM: DILU DE ALWIS, FINANCE DIRECTOR SUBJECT: APPROVE AND ADOPT A RESOLUTION AUTHORIZING THE CITY MANAGER TO CONTINUE OPERATIONS IN FY 2009-2010 UNDER THE FY 2008-09 BUDGET, AND BRING A BALANCED BUDGET TO THE COUNCIL FOR APPROVAL NO LATER THAN JULY 7, 2009. DATE: JUNE 17, 2009 BACKGROUND Without adopting a budget the City of Colton and the Colton Utility Authority has no authority to expend dollars or enter into any contracts. Additionally State law requires all Redevelopment Agencies to adopt the upcoming year's budget (FY 2009-2010) by June 30, 2009. If the budget is not adopted, the City, Utility Authority and Redevelopment Agency must adopt a resolution continuing the previous year's budget into the new fiscal year and for a period less than 60 days. DISCUSSION/ ANALYSIS The General Fund budget for FY 2009-2010 is in a deficit condition as of this date and staff has been working with all labor groups to negotiate concessions that will enable the City to adopt a balanced budget prior to June 30, 2009. However due to the complexities associated with negotiations with all of our labor groups, this negotiation process has not been completed and it is staffs expectation to complete this process within the next couple of weeks and to bring a balanced budget to the Council by July 7, 2009. ALTERNATIVE None FINANCIAL IMPACT This action has no fiscal impact. ENVIRONMENTAL IMPACT N/A RECOMMENDATION Approve the attached continuing resolution authorizing the City Manager to continue operations in FY 2009-10 under the FY 2008-09 budget and bring a balanced budget to the Council for approval no later than July 7, 2009. REVIEW TEAM ONLY City Attorney: Finance Director: D • lac v�S�- City Manager: IS • MtlUh OTHER: