FY17-18 BUDGET WORKSHOP
Staff Contact and Presenter: Vicki Rios, Director, Budget and Finance
Staff Presenter: Terri Canada, Budget Administrator, Budget and Finance
Staff Presenter: Tom Duensing, Assistant City Manager
Purpose and Policy Guidance
The purpose of this item is to provide Council with information relative to the FY17-18 budget process. Staff is seeking Council policy guidance and input on the development of the FY17-18 budget.
Background
At the December 20, 2016 City Council Workshop, staff presented the Five-Year Financial Forecasts for the General Fund and other major operating funds of the city. The forecasts are the initial step toward the development of the FY17-18 annual budget and serve two purposes: 1) provide a long-term view of current year budget decisions affecting the City and 2) provide an estimate of the fund balance and sensitivity to revenue and expenditures changes over the forecast period. Best forecasting practice calls for realistic, yet conservative revenue estimates coupled with realistic service and staffing levels. During the planning process for the FY17-18 Budget, staff will be seeking policy guidance and input from the council on various budgetary items. During the FY17-18 budget process, staff will advise Council of the potential impacts of budgetary decisions on the long-term financial forecasts.
Analysis
This is the first Budget Workshop seeking Council feedback. Staff will present Council with the Budget Workshop calendar, provide an overview of the budget process, and initiate discussion on Council policy guidance and input.
The City's Annual Budget can be broken down into four major components; revenues, operations, capital and debt service. Budget discussions will continue through a series of budget workshops scheduled for March and April to present, review, and discuss each component of the annual budget. The workshops will conclude with two full day sessions in April. At Council's direction, additio...
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