Page 24 - City of Fort Worth Budget Book

Processes and Policies Budget Calendar

January 1 – February 28, 2023: City Manager’s Office Budget Preparation
• Review of forward looking assumptions and financial models
• Allocation review and approval

• Prior Year Commitment review and approval
• Review Programmable Spend and available Capital Fund Balances
• City Council Retreat
March 9: FY2024 Budget Kickoff

• Provide guidance and goals for the FY2024 Budget
• Discuss assumptions/specifications for budget development
• Communicate budget development process to departments
March 9 – April 20: Develop FY2023 Month 5 Forecast

• Departments develop Month 5 Forecast and implications for FY2024 Operating Budget
• FWLab reviews forecasts with departments and adjusts as necessary
• Executive level review Month 5 Forecast
April 3 – June 2: 5-Year CIP Development, Entry, and Review (2024-2028)

• Review current 5-Year CIP to update/change existing years and add 2028
• Executive level review and feedback for CIP development
April 3 – June 2: Business Performance Plan Development
• Departments review and update BPP for FY2024

• Departments review and update Key Performance Indicators (KPI)
• Executive level review and provide feedback on KPIs
April 3 – June 2: FY2024 Budget Development
• Enter Department Requested Budget – matching adjusted budget

• Executive level review and approval for 2024 Budget Development
April 5 – July 30: FY2024 Revenue Manual
• Provide data for improvements to the new Manual

• Review fee schedules and data
• Complete and compile final changes
June 7 – August 9: Develop FY2023 Month 8 Forecast
• Departments develop Month 8 Forecast FY2024 Operating Budget
• FWLab reviews forecasts with departments and adjusts as necessary

• Departments submit plans to cover any budget shortfall for FY2023
• Executive level review Month 8 Forecast and finalize FY2023 budget changes due to forecast
• Create Wind-up M&C based on Month 8 Forecast
June 14 – June 16: Budget Blitz – FY2024 CMO Budget Review

• Departments present FY2024 decision packages to the Executive level to review

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