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ADOPTED | BUDGET

focusing on efficiency, effectiveness, and outcomes. This information assists management in the
effective allocation of resources to meet the City-wide goals as established by the City Council.

Long Range Plans

The city’s annual budget process involves incorporating the goals and strategies identified by the
City Council to provide for the community’s highest priority needs. The City’s three-year Capital
Improvement Program and ten-year long-range plans are used as a guide to identify near and long
term needs and to assist in planning for these future needs. Several significant operations in the
City are forecasted in the long-range plans including: the Parks & Recreation Development Fund,
Aquatics Fund, Fleet Services Fund, and Facilities Fund. In addition to long range plans for
operations the City maintains long range plans for major infrastructure including: Streets,
Drainage, Utilities, and major equipment.

Financial Policies

Many financial policy guidelines are followed for the fiscal management of the City which enable
the City to maintain financial stability. These policies are long-standing and provide guidelines for
current decision-making processes and future plans. Budgeting is an essential element of financial
planning.

 Annual Budget
 The City’s Charter establishes the following requirements (Art XII. Finance / Section 1 - 5):

 Requirement to establish an annual budget and sets the City’s fiscal year as October
1st through September 30th

 Requires the City Manager to submit a proposed budget to City Council at least 45
days prior to the beginning of the fiscal year. Requires the City Council to hold a public
hearing on the proposed budget and requires the budget to be filed with the City
Secretary

 Establishes the process for budget amendments

 Guiding budget principles and policies include:

 The Operating Budget will be balanced with current revenues and a portion of
beginning resources, greater than or equal to current expenditures or expenses.

 Annual estimates of revenues in all funds will be based on historical trends and
reasonable expectations and assumptions regarding growth, the state of the economy,
and other relevant factors. A conservative approach will be observed in estimating
revenues.

 Expenditures in all funds will be managed to ensure obligations of each fund can be
met when due and expenditures will be made in accordance with the Adopted Budget
unless otherwise approved by the City Manager.

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