CITY COUNCIL MEETING AGENDA PACKET

Page 16 of 17 Staff recommends the City Council adopt a resolution (Attachment 1) to accept the FY 2024/25 Year-End Operating Budget report, approve budget amendments as identified, and designate the June 30, 2025, General Fund balance. EQUITY AND SUSTAINABILITY Not applicable, as this item is an administrative matter of City business. OUTREACH No outreach was conducted, as this item is an administrative matter of City business. STRATEGIC PLAN ALIGNMENT Approval of this action advances the ONE Pleasanton strategic goal of Funding Our Future, which is focused on fiscal sustainability. Examining and reviewing actual revenues and expenditures from FY 2024/25 provides staff and the City Council with additional information to adjust the current fiscal year's budget, as needed, as well as refine the long-term financial forecast for more informed fiscal planning. FISCAL IMPACT The recommendation ratifies the City Council’s actions since the last approved budget adjustment in FY 2024/25; transfers $2.4 million from the General Fund to the Streets CIP Fund and amends other revenue, expenditure, and budget items for various funds as shown in Table 15; and designates the June 30, 2025, General Fund Balances as outlined in this report. The proposed unrestricted General Fund reserves will be $31.2 million, which is 20.1 percent of the budgeted FY 2025/26 General Fund operating expenditures, meeting the target reserve level stated in the City’s Reserve Policy. When combined with restricted and other committed General Fund reserves, the total General Fund reserves will be $53.7million. Page 362 of 399