FY15 Budget Process Update
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Transcript of FY15 Budget Process Update
FY 15 Budget Process Update
April 24, 2014
OutlineBudget Calendar
Budget Policies
FY 15 Budget Issues
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
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.
Budget PoliciesProvide parameters for budget preparation
– Revenue Policies
– Capital Maintenance and Replacement Policies
– Fund Balance Policies
FY 15 Budget Issues
Economic Growth - Revenue Impacts
– Solid growth in sales tax
– Property value growth
New construction
Existing values
FY 15 Budget IssuesEconomic Growth - Expenditure Impacts
Increased demands for service– Public Safety– Infrastructure
Streets & Transportation, Facilities
Utilities
– Code Enforcement– Other areas
FY 15 Budget Issues
Consider additional staffing, equipment, and facility requirements
Compensation and benefits
Develop 3 year service priority plans
Next Steps
Monitor economic conditions
Monitor revenues
Identify service priorities for next 3 years
Prepare 5 year Financial Forecast
Prepare Proposed Budget
Council Direction