CC SR 20210202 G - Budget Development Calendar
RANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 02/02/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE
Consideration and possible action to review and approve the Fiscal Year 2021-22
Budget Development Calendar.
RECOMMENDED COUNCIL ACTION:
(1) Review and approve the FY 2021-22 Budget Development Calendar.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): None
ORIGINATED BY: Vina Ramos, Deputy Director of Finance
REVIEWED BY: Trang Nguyen, Director of Finance
APPROVED BY: Ara Mihranian, AICP, Interim City Manager
BACKGROUND AND DISCUSSION:
In accordance with the City Ordinance No. 334, Chapter 3.32 Budget Administration,
Staff is presenting to the City Council the Budget Development Calendar for FY 2021-
2022. The table below summarizes the process, purpose, and dates for the FY 2021-22
Budget Development Calendar. The proposed dates were designed to meet the
following chapters in Ordinance 334:
➢ 3.32.030 Submission date and content
o On or before June 5th of each year, the City Manager shall submit a
budget for the coming fiscal year to the City Council.
o Shall contain budget message, anticipated revenues, expenditures, status
of surplus, authorized full-time equivalent positions for all functions.
➢ 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.
1
Budget Development Calendar FY 2021-2022
Type Purpose FY 2021-2022
Department Requests • Departments submit budget
requests and provide year-end
estimates
January - February
Budget Workshop • Mid-year review and year-end
estimates for FY 2020-2021,
General Fund only
• Staff presents budget
assumptions for the General
Fund and projected ending fund
balance for FY 2020-2021
• Status update on current CIP
projects and propose new CIP
projects
March 30
March 30
April 12
Preliminary Budget • Present preliminary budget
based on Council direction for
General Fund, Capital Project
Fund, and all Special Revenue
Funds
May 18
Budget Hearing • Present the preliminary budget of
all funds based on Council
direction from the Budget
Workshop and Preliminary
Budget
• Present a draft 5-year forecast
model
June 1
Budget Adoption • Council adopts the budget
• Receive and file 5-year forecast
model, investment policy and
GANN limit
June 15
The General Fund and Capital Improvement Program budget workshops will be special
meetings beginning at 6pm.
ALTERNATIVES:
In addition to the Staff recommendation, the following alternative action is available for
the City Council’s consideration:
1. Direct Staff to revise the FY 2021- 2022 Budget Development Calendar.
2