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7.A - Page 24 <br />being reported semi-annually during the mid -year budget update, and during the annual <br />budget adoption. The mid -year update of goals associated with strategic initiatives is <br />included in Attachment 2 of this report. <br />FY 2018-19 Budqet Development <br />Staff recommends that the previously -established principles for the City's operating <br />budget continue to guide development of the FY 2018-19 budget: <br />• Use ongoing revenue for fund ongoing expenses <br />• Use one-time revenues for one-time expenses and to pay down long-term liabilities <br />• Ensure adequate reserves <br />Staff recommends the following timeline for the development of the FY 2018-19 Budget: <br />CDBG/HOME Study Session April 23, 2018 <br />CIP Study Session April 23, 2018 <br />Advance Courtesy Copy of Budget Sent to Council June 1, 2018 <br />Formal Budget Submittal to Council — Study Session June 11, 2018 <br />Budget Public Hearing and Adoption June 26, 2018 <br />ALTERNATIVES <br />Council could request that staff develop an alternative funding strategy for the FY 2018- <br />19 budget. The City Charter requires that the Council, by motion, establish a date upon <br />which the "...City Manager shall submit to the Council a proposed budget...," accordingly, <br />the dates provided in this report are those dates recommended by the City Manager and <br />may be changed at Council's discretion. <br />FISCAL IMPACT <br />Staff time required to develop the FY 2018-19 budget is provided within current budget <br />appropriations. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under CEQA as defined in CEQA Guidelines, section 15378, <br />because it has no potential for resulting in either a direct or foreseeable physical change <br />in the environment. <br />KIMBRA MCCARTHY <br />ASSISTANT CITY MANAGER/ADMINISTRATIVE SERVICES DIRECTOR <br />