Title
Staff Report for Presentation on Preliminary Fiscal Year FY 2021-22 and 2022-23 Budget
Staffreport
SUMMARY AND RECOMMENDATIONS
Presentation on the Preliminary Fiscal Year FY 2021-22 and 2022-23 Budget.
BACKGROUND
The City Council approved the last biennial budget for the Fiscal Year (FY) 2019-20 and 2020-21 General Fund and other funds on June 3, 2019. Approved budgets are the annual expenditure plan and resource allocation guiding and ensuring implementation of City Council policies and priorities. The budget implements the vision, values, and direction for the broad range of services meeting the needs of the community in accordance with City Council policy.
Staff is presenting the preliminary budget to frame the budget development and update the City Council on the upcoming two-year budget for FY 2021-22 and 2022-23. The purpose of the preliminary budget is to project revenues supporting City services and comparing revenues to the current costs for maintaining existing services. The preliminary budget assumes continuation of current staffing levels, professional services, supplies, maintenance, and utilities. The focus of the preliminary budget is the General Fund since it comprises the unrestricted and therefore most flexible funds of the City supporting program objectives.
The Budget Task Force recommendations, Unfunded Capital Improvement Projects, Federal American Rescue Plan funding, and the use of Reserves are not included in this base-line budget. Part of the discussion on April 26, 2021 will include these topics.
INTRODUCTION
The multi-year forecast for key operating funds is a critical budgetary tool providing a multi-year view of revenues and expenditures. This tool helps the City Council evaluate impacts of policy choices on the long-term fiscal health of the City. The forecasting model enables the City Council to act more strategically by better understanding the future impact of current decisions.
A variety of assumptions ...
Click here for full text