18. ADOPTION OF FISCAL YEAR 2024-2025 BUDGET AND GANN APPROPRIATION LIMIT On May 21, 2024, the City Council held a budget workshop to discuss the second-year update to the Fiscal Year 2023-2025 Biennial Operating Budget and Capital Improvement Program for Fiscal Year 2024-2025. This update continues to allocate resources to fulfill City Council's priorities. This report provides two budget options for the Council's consideration. The Council may adopt the proposed Fiscal Year 2024-2025 budget, selecting either Option A or Option B, along with the corresponding resolution. Budget Options for Consideration June 18, 2024: Option A: Fund 189 Land Sale Proceeds reimburses $3 million to Fund 100 General Fund for the Civic Center Emergency Generator Project. Option B: Keep Fund 100 General Fund as the primary funding source for the Emergency Generator Project. Apart from the $3 million item outlined above, both options support identical projects, programs, services, staffing, fees, and personnel compensation levels. - City of Tustin, CA

Meeting: Regular Meeting of the City Council/Closed Session-5:30 pm/Regular Meeting-7:00 pm

Meeting Time: June 18, 2024 at 7:00pm PDT

Agenda Item

18. ADOPTION OF FISCAL YEAR 2024-2025 BUDGET AND GANN APPROPRIATION LIMIT On May 21, 2024, the City Council held a budget workshop to discuss the second-year update to the Fiscal Year 2023-2025 Biennial Operating Budget and Capital Improvement Program for Fiscal Year 2024-2025. This update continues to allocate resources to fulfill City Council's priorities. This report provides two budget options for the Council's consideration. The Council may adopt the proposed Fiscal Year 2024-2025 budget, selecting either Option A or Option B, along with the corresponding resolution. Budget Options for Consideration June 18, 2024: Option A: Fund 189 Land Sale Proceeds reimburses $3 million to Fund 100 General Fund for the Civic Center Emergency Generator Project. Option B: Keep Fund 100 General Fund as the primary funding source for the Emergency Generator Project. Apart from the $3 million item outlined above, both options support identical projects, programs, services, staffing, fees, and personnel compensation levels.