This document outlines the FY 15 budget process calendar and key issues to address. It provides the budget calendar with dates for staff to prepare the budget, presentations, workshops, hearings, and adoption deadlines. It also notes the budget policies that will guide preparation and issues like economic growth impacting revenues and expenditures through increased demands for public safety, infrastructure, and other services. Next steps include monitoring the economy, revenues, identifying service priorities, and preparing the proposed budget and financial forecast.

1. FY 15 Budget Process
Update
April 24, 2014

2. Outline
Budget Calendar
Budget Policies
FY 15 Budget Issues

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. 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. Budget Policies
Provide parameters for budget preparation
– Revenue Policies
– Capital Maintenance and Replacement
Policies
– Fund Balance Policies

6. FY 15 Budget Issues
Economic Growth - Revenue Impacts
– Solid growth in sales tax
– Property value growth
New construction
Existing values

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. FY 15 Budget Issues
Consider additional staffing, equipment,
and facility requirements
Compensation and benefits
Develop 3 year service priority plans

9. Next Steps
Monitor economic conditions
Monitor revenues
Identify service priorities for next 3 years
Prepare 5 year Financial Forecast
Prepare Proposed Budget

10. Council Direction