File #: 4218    Version: 1 Name: Multi Year Budget
Type: Work Session Item Status: Work Session
File created: 2/27/2019 In control: City Council
On agenda: 3/5/2019 Final action:
Title: Discuss Multi-Year Budget And Financial Forecast.
Attachments: 1. Attachment A - Key Findings & Assumptions, 2. Attachment B - General Fund Summary, 3. Attachment C - Utility Fund Summary, 4. Attachment D - Budget Preparation Calendar, 5. Attachment F - Tax Base Comparison, 6. Attachment E - Residential Municipal Cost of Service
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CC MEETING: March 5, 2019

DATE: February 27, 2019

TO: Erin Rinehart, City Manager

FROM: Bob Scott, Chief Financial Officer

Title
Discuss Multi-Year Budget And Financial Forecast.

Body
BACKGROUND:
Each late winter or early spring staff presents multi-year forecasts to the City Council, which includes emerging budget issues, in order to receive preliminary guidance regarding the preparation of the annual budget. The formal budget process for City Council will begin in late-July with the distribution of the preliminary budget culminating in mid-September with the adoption of the operating and capital budgets.

Over the coming months, staff will be preparing the Fiscal Year (FY) 2020 annual operating and capital budget to be presented to City Council on or before July 31, 2019. This budget will also include forecasts for Fiscal Years 2021 and 2022 for the operating funds. The attached Multi-year Budget and Financial Forecast was prepared using certain assumptions as to revenue and expenditure growth including the projected effects of planned additions of programs. Included are the General Fund and Utility Operating Fund. Staff is seeking City Council direction regarding the assumptions used and other items to consider in preparation of the upcoming FY 2020 annual operating and capital budget.

STAFF RECOMMENDATION/ACTION DESIRED:
Receive City Council policy direction on the following items related to the multi-year budget, operating budgets and strategic business planning:
* Appropriateness of assumptions.
* The need for any additional budget briefings prior to the submission of the preliminary budget.
* Areas the City Council may want to consider reducing or increasing service levels.
* Taxation of personal use leased vehicles.
Other priorities or concerns of City Council not previously discussed.

ATTACHMENTS:
Attachment A: Multi-year Budget and Financial Forecast Key Findings and Assumptions
Attachment B: General Fund Multi-Year Budget and Financi...

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