Fort Walton Beach Council agenda — 08-18-08 special agenda - budget — reading text

Apr /May Aug the year or generated during the year) equals or 1 exceeds the total of all financial requirements. In order CITY CITY to accomplish this goal, a Budget Committee is formed couY MANAGER REVIEW REVIEW comprised of the City Manager, Finance Director, and Jul /Aug May /Jun Budget & Grants Manager. The Committee conducts comprehensive meetings with Department Directors and division managers to review their budget requests and a collaborative effort is undertaken to achieve City Council and department goals within fiscal constraints. This year' s department review meetings were ' I held later than normal as a result of the unknown impact the changes from the constitutional amendment City of Fort Walton Beach, FL a 24- Budget Overview enacted in January 2008 would have on the BUDGET SCHEDULE City' s taxable assessed value. The City January 2008 Strategic Planning —Staff received preliminary taxable value in its FY 2008 -09 Budget Kick -Off June, and then was able to proceed with department budget meetings. The Budget March 2008 Mid -Year FY 2007 -08 Budget Review Develop 5 -Yr Revenue /Expense Projections Committee enlists the assistance of specific Strategic Planning —Council Department Directors for areas of May 2008 Draft Department Budgets Submitted specialized interests, such as the Revenues • Fee Schedule Information Technology Director for Personnel • Operating Expenses computer issues and the Human Resources Computers • EquipmentlVehicles Capital Improvement Projects Director for personnel and risk management issues. Department and division objectives, May 2008 Strategic Planning —Council accomplishments, and performance Budget Policy Meeting measures are also evaluated during budget June 2008 City Manager and Director Budget Review development to determine the effectiveness July 2008 final Department Budget Submission of program activities and levels of Current Year Accomplishments Budget Year Goals & Objectives appropriate funding. Performance Measures At the completion of departmental meetings, August 1, 2008 Distribute Proposed Budget to Council the Budget. Committee meets to review the August 11, 2008 City Council Meeting —Set Tentative Millage finalized budget requests and compare Rate for Ad Valorem Taxes those requests against the Vision and August 18 -20, 2008 Special City Council Meetings —Budget Strategic Plans and fiscal limitations. Given Workshops ( as many days as needed) revenue projections, economic conditions, September 17, 2008 City Council Meeting —Set Proposed and funding requirements, requests are Millage by Motion, Preliminary Budget ranked the funding level is weighed and Resolution against available resources depending upon September 24, 2008 City Council Meeting —Final Millage program priorities and previously issues Resolution, Final Budget Resolution identified in the budget process. Once a balancedbalanced budgetbudget isis achieved,achieved, itit isis presented presented toto CityCity Council Council forfor consideration.consideration. RevenueRevenue & & ExpenditureExpenditure Assumptions Assumptions GenerallyGenerally speaking,speaking, revenue revenue assumptionsassumptions areare developeddeveloped usingusing aa fivefive- - yearyear historicalhistorical summary,summary, coupledcoupled - - toto- - datedate amountamount annualizedannualized forfor thethe fullfull year.year. HistoricalHistorical trendstrends inin revenues revenues areare withwith thethe currentcurrent yearyear analyzed analyzed andand anyany majormajor economiceconomic oror legislative legislative changeschanges areare alsoalso considered considered toto achieve achieve thethe mostmost accurateaccurate revenuerevenue estimateestimate possible.possible. RevenueRevenue projectionsprojections occuroccur concurrentlyconcurrently withwith departmentaldepartmental budgetbudget developmentdevelopment andand continue continue untiluntil thethe budgetbudget isis adoptedadopted toto ensureensure thethe amountsamounts areare basedbased onon thethe mostmost currentcurrent andand allall availableavailable information.information. ExpenditureExpenditure assumptions,assumptions, likelike revenuerevenue assumptions,assumptions, areare developeddeveloped usingusing aa fivefive - - yearyear historicalhistorical summary,summary, - - toto- - datedate amountsamounts annualizedannualized forfor thethe fullfull year.year. CurrentCurrent trendstrends inin expenditures expenditures areare coupledcoupled withwith currentcurrent yearyear analyzedanalyzed andand newnew programsprograms andand projectsprojects areare alsoalso considered considered toto determinedetermine budgetbudget yearyear estimates.estimates. Community Community Participation Participation TheThe CityCity solicitssolicits inputinput fromfrom itsits residentsresidents inin thethe budgetbudget process.process. TheThe City'City' ss newsletter,newsletter, BeachBeach Bits,Bits, publishespublishes noticesnotices regardingregarding thethe budgetbudget process.process. TheThe GreatGreat Neighborhood Neighborhood PartnershipPartnership ProgramProgram alsoalso directlydirectly solicitssolicits inputinput fromfrom thethe City'City' ss residentsresidents aboutabout thethe prioritiespriorities andand goalsgoals forfor theirtheir neighborhoods neighborhoods andand thethe CityCity andand translatestranslates thesethese needsneeds intointo capitalcapital programsprograms oror services.services. NoticesNotices areare likewiselikewise publishedpublished onon thethe City'City' ss website website invitinginviting publicpublic input.input. Additionally,Additionally, therethere areare twotwo publicpublic hearingshearings beforebefore finalfinal adoption adoption ofof thethe budget.budget. CityCity CouncilCouncil BudgetBudget ReviewReview TheThe MayorMayor andand CityCity CouncilCouncil areare responsibleresponsible forfor reviewingreviewing thethe proposedproposed budgetbudget toto ensureensure itit meetsmeets thethe andand goalsgoals andand objectivesobjectives ofof thethe City,City, conducting conducting meetingsmeetings onon thethe budgetbudget toto enlistenlist publicpublic comment,comment, conducting conducting publicpublic hearingshearings priorprior toto thethe finalfinal adoptionadoption ofof thethe budget.budget. InIn August,August, budgetbudget meetingsmeetings areare heldheld withwith thethe CityCity CouncilCouncil toto reviewreview andand discussdiscuss thethe proposedproposed budget.budget. TheThe CityCity ManagerManager reviewsreviews majormajor issuesissues andand DepartmentDepartment DirectorsDirectors areare presentpresent forfor thethe discussionsdiscussions andand studystudy ofof thethe proposedproposed budget.budget. TheThe workshopsworkshops areare openopen toto thethe publicpublic andand thethe publicpublic isis encouragedencouraged toto