Page 16 - City of Westlake FY20 Budget

Section 01 Executive
Transmittal Letter

II. BUDGET SYSTEMS AND GOALS

The adopted FY 19-20 budget is influenced by the following systems: The Town’s Strategic Plan, the
Comprehensive Plan, Council direction, Fiscal & Budgetary policies, recommendations from the Town
Manager, Government Finance Officers Association guidelines, and general budget principles.

Strategic Plan – The organization utilizes the concepts found within the Balanced Scorecard system to
ensure we focus on the four main areas that will lead to the success of our organization.

Quality of Life for our Citizens, Students, and Stakeholders

Conservative Approach to Financial Stewardship

Review and Oversight of our Municipal and Academic Operations

Investment in our People, Facilities, and Technology for Exceptional Service Delivery

Comprehensive Plan – The Comprehensive Plan provides a vision for the future of Westlake and the
priorities for the community as it relates to a variety of plan elements that help determine land use,
mobility, parks, open space, housing, economic development, storm water management, and water
conservation.

Town Council Policies and Priorities – In the coming year, staff will be focusing on our overall service
delivery, and:

• Oversight of development projects to ensure we continue meeting our strategic theme of
“High Quality Planning, Design, & Development”
• Investment in Westlake Academy in order to provide our students with a school
environment that supports our strategic theme of “Exemplary Education”
• Continued support of public safety efforts to reach our strategic objective of “Preserving
Desirability & Quality of Life” for our residents

Fiscal & Budgetary Policies – The policies address areas such as the intended outcomes of our fiscal
policies, operating budgets, revenue management, expenditure control, fund balance/retained earnings,
debt management, grants, economic development, audits, internal controls, and asset management, to
name a few. The policies are provided in our budget document for residents to review and staff to use
as a guiding set of principles each year.
Budget Principles – There are a number of important components for sound fiscal management, including:

• Plan, manage, and fund debt service and related service delivery programs
• Maintain fund balance in accordance with the policy and future obligations
• Oversee facilities and infrastructure
• Provide competitive employee compensation
• Provide exceptional and responsive public services

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