FY15 Budget Process Update

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FY15 Budget Process Update

  1. 1. FY 15 Budget Process Update April 24, 2014
  2. 2. Outline Budget Calendar Budget Policies FY 15 Budget Issues
  3. 3. Budget Calendar April 24 – Council Budget Process Presentation June/July - Staff prepare budget August 14 - Present proposed budget August 18-20 – Budget Workshops August 28 – Budget Public Hearing
  4. 4. Budget Calendar September 4th – Tax Rate Public Hearing September 11th – Tax Rate Public Hearing September 25th – Budget and Tax Rate Adoption October 1 – New Fiscal Year begins Budget must be adopted by Sept 27.
  5. 5. Budget Policies Provide parameters for budget preparation – Revenue Policies – Capital Maintenance and Replacement Policies – Fund Balance Policies
  6. 6. FY 15 Budget Issues Economic Growth - Revenue Impacts – Solid growth in sales tax – Property value growth New construction Existing values
  7. 7. FY 15 Budget Issues Economic Growth - Expenditure Impacts Increased demands for service – Public Safety – Infrastructure Streets & Transportation, Facilities Utilities – Code Enforcement – Other areas
  8. 8. FY 15 Budget Issues Consider additional staffing, equipment, and facility requirements Compensation and benefits Develop 3 year service priority plans
  9. 9. Next Steps Monitor economic conditions Monitor revenues Identify service priorities for next 3 years Prepare 5 year Financial Forecast Prepare Proposed Budget
  10. 10. Council Direction

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