FY17-18 BUDGET WORKSHOP
Staff Contact and Presenter: Vicki Rios, Director, Budget and Finance
Staff Presenter: Tom Duensing, Assistant City Manager
Staff Presenter: Terri Canada, Budget Administrator
end
Purpose and Policy Guidance
Recommendation
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 and consideration of the 10-year Capital Improvement Plan.
body
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's legal requirements for budget adoption and, budget components, and financial policies. At the second budget workshop on March 7, 2017, staff provided an overview of the city's key revenue sources for each of the major funds. 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.
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 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, additional budget workshops may be scheduled, or currently scheduled workshops may be cancelled depending upon the need.
As part of the budget process each year, a Capital Improvement Plan (CIP) is developed which is the roadmap for creat...
Click here for full text