FY17-18 BUDGET WORKSHOP
Staff Contact: Vicki Rios, Director, Budget and Finance
Staff Presenter: Tom Duensing, Assistant City Manager
Staff Presenter: Terri Canada, Budget Administrator
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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 and consideration of the 10-Year Capital Improvement Plan.
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 FY17-18 Budget discussion continued at the February 7th workshop 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. The second budget workshop on March 7th included an overview and discussion on the city's major revenue sources. At the third budget workshop held March 21st staff presented the draft FY2018-2027 Ten-Year Capital Improvement Plan. 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 scheduled for April and May 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,...
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