CC SR 20230117 I - Budget Calendar FY2023-24
CITY COUNCIL MEETING DATE: 01/17/2023
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to establish the Fiscal Year 2023-24 Budget
Development Calendar.
RECOMMENDED COUNCIL ACTION:
(1) Review and approve the FY 2023-24 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, City Manager
BACKGROUND AND DISCUSSION:
Pursuant to Chapter 3.32, Budget Administration of the Rancho Palos Verdes Municipal
Code (RPVMC), Staff presents to the City Council for its consideration the Budget
Development Calendar for FY 2023-24. The proposed dates listed on the next page were
developed to meet the following requirements described in Chapter 3.32 o f the RPVMC:
• 3.32.030 Submission date and content
• On or before June 5 of each year, the City Manager shall submit a budget
for the coming fiscal year to the City Council.
• Shall contain a budget message, anticipated revenues, expenditures, status
of surplus, and authorized full-time equivalent positions for all functions.
• 3.32.080 Public hearings
• Prior to the commencement of any fiscal year, the budget is in effect, the
City Council shall hold a public hearing on the budget.
1
• 3.32.090 Date of adoption
• The budget shall be adopted by a majority vote of the City Council.
As such, Staff seeks the City Council’s approval of the proposed FY 2023-24 Budget
Development Calendar:
Budget Development Calendar FY 2023-24
Type Purpose FY 2023-24
Department
Requests
Departments submit budget requests
and provide year-end estimates
January – February
2023
City Council
Goals Workshop
City Council reviews the progress of the
current FY 2022-23 Goals, sets the
framework for the FY 2023-24 Goals,
and directs Staff on the priorities for the
upcoming budget.
March 15, 2023
(Wednesday at 6
p.m.)
Budget Workshop
(General Fund)
• Mid-year review and year-end
estimates for FY 2022-23, General
Fund only
• Staff presents budget assumptions
for the General Fund and projected
ending fund balance for FY 2023-24
April 6, 2023
(Thursday at 6 p.m.)
Budget Workshop
(CIP)
Status update on current Capital
Improvement Program (CIP) projects
and propose new CIP projects
April 12, 2023
(Wednesday at 6
p.m.)
Preliminary
Budget
Present preliminary budget based on
Council direction for General Fund,
Capital Project Funds, and all Special
Revenue Funds
May 16, 2023
(Tuesday at 7 p.m.)
Budget Hearing • Present the preliminary budget of all
funds based on Council direction
from the Budget Workshop and
Preliminary Budget
• Present the 10-year financial model
June 6, 2023
(Tuesday at 7 p.m.)
Budget Adoption • Council adopts the budget
• Receive and file the investment
policy, GANN limit, and over
$25,000 purchases and services for
FY 2023-24
June 20, 2023
(Tuesday at 7 p.m.)
The budget workshops (City Council Goals and CIP) will occur on Wednesdays at 6 p.m.
and the budget workshop for General Fund is scheduled on a Thursday at 6 p.m. The
2
location of each of the workshops will be determined at a later date with advanced notice
to the City Council and the public.
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 2023-24 Budget Development Calendar.
3