FY17-18 BUDGET WORKSHOP
Staff Contact: Vicki Rios, Director, Budget and Finance
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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 discussion continued at the first budget workshop on February 7, 2017, where staff presented the FY17-18 budget calendar, an overview of the budget and the state legal requirements, budget components, and information on upcoming budget initiatives. During the planning process for the FY17-18 budget, a series of budget workshops have been scheduled to seek policy guidance and input from the Council on various budgetary items. During this budget process, staff will advise Council of the potential impacts of budgetary decisions on the long-term financial forecasts.
Analysis
This is the second budget workshop seeking Council feedback. Staff will present Council with the budget workshop calendar, provide an overview of the FY17-18 revenues projections, and continue discussion on budget items for consideration requiring Council policy guidance and input.
The City's Annual Budget can be broken down into four major components; revenues, operations, capital and debt service. This budget workshop discussion will focus on the city's major revenue sources and policy items. Budget discussions will continue in a series of budget workshops scheduled through April where staff will present, review, and discuss each component of the annual budget. The workshops will conclude with two full day budget work sessions in April. At Council's direction, additional budget workshops may be scheduled, or currently scheduled workshops may be cancelled depending upon the need.
General Fund
The Decembe...
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