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03-09-2010 CC Rpt A11 COUNCIL AGENDA STAFF REPORT cnRE- WHY 77-4,4,0 Meeting Date: March 9, 2010 2010 PM I: 05 Public Hearing: ❑ OFFICE OF CITY CLERK / Discussion Item: e CHINO HILLS "P�W.0HILI ..,, Consent Item: ❑ MARCH 1, 2010 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: REVENUE AD HOC COMMITTEE RECOMMENDATION: Appoint two City Council members to the Revenue ad hoc Committee. BACKGROUND/ANALYSIS: During the Vision 2020 workshop on January 13, 2009, with the City Council and all City Commissioners, staff presented a 12 year outlook of projected revenues and expenditures starting with FY 2008-09 to FY 2019-20. The analysis showed that at a certain point, the revenues and expenditures, including the use of available fund balances, crosses over and eventually results to a deficit spending. Staff has continued to monitor the fiscal condition of the City on a quarterly basis and recommended adjustments in both revenues and expenditures as appropriate. Additionally, during the workshop, staff had identified several options for revenue enhancements. With the continued downturn in the economy and the uncertainty of the State of California's budget crisis causing an unknown fiscal impact to local government, staff feels that it would be beneficial to create a Revenue ad hoc Committee consisting of two City Council members to work with staff to explore revenue alternatives for the City. Staff, therefore, is recommending that the City Council appoint two City Council members to the Revenue ad hoc Committee. FISCAL IMPACT: There is no fiscal impact as a result of this agenda item. Respectfully submitted, Micifael S. Fleager City Manager MSF:JRL:ddk