CC SR 20180220 E - FY18-19 Budget CalendarRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 02/20/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action to receive and file the FY18-19 Budget Development
Calendar.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the FY18-19 Budget Development Calendar
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): None
ORIGINATED BY: Trang Nguyen, Deputy Director of Finance-', ;'-
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Manager /'`'.,i..,1_'
BACKGROUND AND DISCUSSION:
The table below described the process, purpose and dates for the FY18-19 Budget
Development. For comparison purposes, the FY17-18 dates are listed as well.
The proposed dates were intended to meet the following Municipal Code provisions:
• 3.32.030 — Submission date and content
o On or before June 51" of each year, the City Manager shall submit a
budget for the coming fiscal year to the City Council.
• 3.32.080 — Public hearings
o Prior to the commencement of any fiscal year the budget is in effect, the
City Council shall hold a public hearing on the budget.
• 3.32.090 — Date of adoption
o The budget shall be adopted by the majority vote of the City Council.
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Type
Purpose
FY17-18
FY18-19
Department
. Department submit budget
February -
February -
Request
request and provide year-end
March
March
estimates
Budget
• Updates on Fund Balance for
April 10th
April 12th
Workshop
FY17-18, General Fund only
• Staff presents budget
assumptions for General Fund
and projected fund balance for
FY18-19
• Status update on current CIP
Projects
• Staff presents accomplishments
for the year and requests for
additional resources
Preliminary
. Present preliminary budget
May 16th
May 15th
Budget
based on Council directions for
General Fund and Capital Project
Fund
Budget
. Present the preliminary budget of
June 6th
June 5th
Hearing
all funds based on Council
directions from the Budget
Workshop and Preliminary
Budget
• Present a draft 5 -year model
Budget
. Council adopt the budget
June 20th
June 19th
Adoption
. Receive and file 5 -year model,
investment policies and GANN
limit
ALTERNATIVES:
In addition to the Staff recommendation, the following alternative action is available for
the City Council's consideration:
Direct Staff to revise the FY18-19 Budget Development Calendar.
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