Page 9 - CityofWataugaAdoptedBudgetFY24

HOW TO USE THIS BUDGET DOCUMENT

The City of Watauga’s Budget Document provides comprehensive information about City
policies, goals, objections, financial structure, operations, and an organizational framework
that shows how City services are to be provided in FY2023-2024. A main objective of the
budget document is to communicate this information to readers in a manner that is clear,
concise, and understandable. At the front of the budget is a Table of Contents that will aid
the reader in finding specific information quickly. The budget is divided into the major
sections as described below:

Introductory Information

The Table of Contents should aid a user of this document as a guide to the organization of
this book. The City Manager’s Budget Message should be read first as it provides an
overview of policy decisions made during the preparation process that influenced the
FY2023-2024 budget. The message summarizes the contents of the budget with goals
and objectives clearing outlined. The Introductory Section contains a City Organizational
Chart followed by information about the City. The reader can read about physical location
of the City, the history of Watauga, services offered by the City and significant
demographic and graphical information about the City.

Long Term Strategic Plan

This section details the long-term strategic plans developed by the City Council and City
Management. The City Council is committed to setting priorities, values, and policies that
are in the best interest of the citizens of Watauga. Strategic planning is an essential
component of the annual budget and multi-year financial planning processes that allow the
City to maintain a plan that addresses current and future economic impacts. The multi-
year financial projections estimate revenues and expenditures for the major operating
funds. Projections are made for the General Fund, General Obligation Debt Service Fund,
and Water and Sewer Fund, which comprise most of the City’s revenues and expenditures
(excluding capital funds). Other long-term financial plans included in this section are a
Five-year personnel improvement plan to identify personnel needs in the current budget
and future years, and a Five-year capital outlay plan that identifies equipment and vehicles
that will need to be replaced with the year of planned replacement and estimated cost.

Budget Summary

The budget summary section for all funds discusses the budget preparation process that
begins the first of every year and formally ends in September, with numerous steps in
between. An explanation of the financial structure of the City shows how revenues and
expenditures are reported by fund and their uses. A summary of all funds draws the
operating funds and capital funds together.

Fund and Departmental Information

The fund sections include a summary of each fund level and information on the
departmental budgets within those funds.

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