Page 66 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 2 Financial Analysis
Budget 101 Overview

Positive Unassigned
Fiscal Operating Fund Operating Dollars Per
Year Balance Balance Days Operating Day
FY 18/ 19 YES $ 9,160,724 350 $ 26,146

FY 19/ 20 YES $ 7,612,047 280 $ 27,220

FY 20/ 21 YES $ 6,323,137 230 $ 27,459
FY 21/ 22 YES $ 5,382,465 193 $ 27,827

FY 22/ 23 YES $ 4,532,696 160 $ 28,292

REVENUE ESTIMATES FOR BUDGETING:
To maintain a stable level of services, the Town uses a conservative, objective, and analytical
approach when preparing revenue estimates. The process shall include analysis of probable
economic changes and their impacts on revenues, historical collection rates, and trends in
revenues. This approach should reduce the likelihood of actual revenues falling short of budget
estimates during the year and should avoid mid-year service reductions.

CENTRAL CONTROL:
Modifications within the operating categories ( salaries, supplies, maintenance, services, capital,
etc.) can be made with the approval of the Town Manager. Modifications to reserve categories
and interdepartmental budget totals will be made only by Town Council consent with formal
briefing and Council action.

CONTINGENT APPROPRIATION:
During the budget process, staff will attempt to establish an adequate contingent appropriation
in each of the operating funds. The expenditure for this appropriation shall be made only in
cases of emergency, and a detailed account shall be recorded and reported. The proceeds
shall be disbursed only by transfer to departmental appropriation. All transfers from the
contingent appropriation will be evaluated using the following criteria:
Is the request of such an emergency nature that it must be made immediately?
Why was the item not budgeted in the normal budget process?
Why can’ t the transfer be made within the department?

PERFORMANCE MEASURES & PRODUCTIVITY INDICATORS:
Where appropriate, performance measures and productivity indicators will be used as
guidelines to measure efficiency, effectiveness, and outcomes of Town services. This information
will be included in the annual budget process as needed.

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