REQUEST FOR CITY COUNCIL ACTION
CORONA HOUSING AUTHORITY ACTION
CORONA UTILITY AUTHORITY ACTION
CORONA PUBLIC FINANCING AUTHORITY
DATE: 06/05/2024
TO: Honorable Mayor and City Council Members
FROM: Finance Department
SUBJECT:
Title
ADOPTION OF THE CITY OF CORONA PROPOSED BUDGET FOR FISCAL YEAR 2025, AMENDMENTS TO THE FISCAL YEAR 2024 ADOPTED BUDGET, AND RELATED CONTRACT AMENDMENTS, CHANGE ORDERS, AND PURCHASE ORDERS
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EXECUTIVE SUMMARY:
The Fiscal Year 2025 Proposed Budget was reviewed and discussed at the Spring Financial Workshop on March 28, 2024, and at the Study Session on May 15, 2024. This report recommends approval of the proposed budget and includes additional actions identified after the last budget presentation to be incorporated into the Fiscal Year 2025 Adopted Budget. In addition, this report includes recommended Fiscal Year 2024 budget adjustments and contract amendments, change orders, and purchase orders for both Fiscal Years 2024 and 2025.
RECOMMENDED ACTION:
Recommended action
That the:
a. City Council adopt Resolution No. 2024-027, adopting the City's budget for Fiscal Year 2025, Revised Budget Items, and General Fund Budget Policies.
b. Corona Utility Authority adopts Resolution No. 2024-028, adopting said Authority's budget for Fiscal Year 2025, Revised Budget Items, and Budget Policies.
c. Corona Public Finance Authority adopts Resolution No. 2024-029, adopting said Authority's budget for Fiscal Year 2025, Revised Budget Items, and Budget Policies.
d. Corona Housing Authority adopts Resolution No. 2024-030, adopting said Authority's budget for Fiscal Year 2025, Revised Budget Items, and Budget Policies.
e. City Council adopts Resolution No. 2024-031, adopting the annual appropriations limit for Fiscal Year 2025 and selecting the population and inflation factors accordingly.
f. City Council and Corona Utility Authority approve the following additional budget items to be included in the Fiscal Year 2025 adopted budg...
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