AGENDA CAPTION:
Title
Receive a Staff presentation and hold discussion regarding the Fiscal Year 2019-2020 Financial Update and preliminary Fiscal Year 2020-2021 Budget, and provide direction to Staff.
Body
Meeting date: May 26, 2020
Department: Finance
Amount & Source of Funding
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Fiscal Note:
Prior Council Action: April 21, 2020 staff presented COVID Finance Strategy with a phased approach to balancing the FY20 budget through cost reductions, franchise fee increase, future use of fund balance, potential reduction of economic incentive rebates.
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
This is a City Council workshop to discuss and provide direction on the calculation and creation of the Fiscal Year 2021 budget and Fiscal Year 2020 Financial Update.
In this workshop, City Council will receive detailed information on revenue assumptions and
recommendations for the FY2021 budget. This may include discussions on potential options to balance the budget with considerations to the preliminary revenue projections.
The budget process begins in the spring with formation of the Budget Policy. A preliminary budget is presented for discussion with City Council durin...
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