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File #: 20-511    Version: 1 Name: Fiscal Year 2021-23 Budget Calendar
Type: Staff Report Status: Agenda Ready
In control: Finance Committee
Meeting Date: 11/3/2020 Final action:
Enactment date: Enactment #:
Title: Discussion Regarding Biennial Budget Calendar for 2021-22 and 2022-23
Sponsors: Susan Hsieh Finance Director
Attachments: 1. 2022 & 2023 Budget Calendar
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo/Audio
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Title
Discussion Regarding Biennial Budget Calendar for 2021-22 and 2022-23

Staffreport

SUMMARY AND RECOMMENDATION

Staff recommends that the Finance Committee receive and review this report regarding the biennium budget calendar for the Fiscal Year 2021-22 and 2022-23 and provide feedback to staff.

BACKGROUND

The City Council-approved General Fund, Special Revenue Funds, Capital Improvement Projects and Enterprise Funds Budget is the annual plan and resource allocation that guides and ensures implementation of City Council policies and priorities over the next two years. The budget implements the vision and direction for the broad range of services that meet the needs of the community in accordance with City Council goals.

DISCUSSION

The biennial budget is adopted by the City Council no later than June 30th of each year in accordance with the City Charter and applicable sections of the California Government Code. As part of the budget process, all departments submit revenue projections and expenditure requests for the biennial budget. These requests are reviewed at many administrative levels and a final City Manager Proposed Biennial Budget showing estimated revenues and expenditures is prepared. The proposed budget is reviewed by the City Council in mid-May with a public hearing in June each year. Finally, the City Council adopts the budget resolution approving the new fiscal year's City Budget.

The budget preparation process involves several key milestones as presented below. Staff has begun the process for developing the Fiscal Year 2021-22 and 2022-23 City Budget. Over the next several months, staff will develop key budget documents and present them to the City Council for review and discussion.

The City Council approved the formation of the Community Advisory Budget Task Force (Budget Task Force) in July 2020. The primary responsibilities of the Budget Task Force are to rebalance the City budget considering budget deficits, the COVID-19 ...

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