Resolution amending Financial Budgetary Policies adopted by Resolution 033727 and providing financial policy direction on preparation of the FY 2027 operating and capital budgets.

Motion

Moved by

Roland Barrera

Seconded by

Paulette Guajardo

Motion text

Director of Finance Sergio Villasana presented information on the following topics: financial budgetary policy; Section 2-current revenues/current expenditures; and Section 8-funding level from general fund for residential street reconstruction fund. City Manager Peter Zanoni, Director Villasana, Deputy City Attorney Buck Brice, Bond Counsel Stephanie Leibe, and Managing Director of Specialized Public Finance Victor Quiroga responded to Council questions. Council Member Paxson moved to amend Section 3 of the resolution to add "with an aspirational goal of 25 percent," seconded by Council Member Campos and approved with the following vote: Mayor Guajardo, Council Members Barrera, Campos, Cantu, Paxson, Roy, Scott, and Vaughn, voting "yes," and Council Member Hernandez, voting "no." Mayor Guajardo opened public comment. There were no comments from the public. Mayor Guajardo closed public comment. Council Member Scott moved to approve the resolution as amended, seconded by Council Member Paxson. This Resolution was passed as amended and approved with the following vote:

Vote