HomeMy WebLinkAbout05/24/2007, BW 1 - PRELIMINARY 2007-09 FINANCIAL PLAN councit Al um
n n90a 5-24&5-29-07
j acEnOA uEpont ,�mN,.,�1., B
C I T Y O F S A N L U I S O B 1 S P 0
FROM: Ken Hampian, City Administrative Officer
Bill Statler, Director of Finance & Information Technology
SUBJECT: PRELIMINARY 2007-09 FINANCIAL PLAN
CAO RECOMMENDATION
Review and consider the Preliminary Financial Plan for 2007-09 at the budget workshops
scheduled for May 24 and 29, 2007.
DISCUSSION
Enclosed for your review and information in preparing for the May 24 and 29 budget workshops
are the following three documents:
1. Preliminary Financial Plan. This includes:
a. The budget message from the CAO highlighting key issues facing us (Section A)
b. Policies and objectives, including work programs for major City goals (Section B)
c. Simple graphics and charts summarizing the City's budget (Section C)
d. Operating programs (Section D)
e. Summary of capital improvement plan (CIP)projects and funding sources (Section E)
f. Debt service requirements(Section F)
g. Changes in financial position for each of the City's operating funds (Section G)
h: Financial and statistical tables (Section H)
i. Budget reference materials (Section 1)
2. Appendix A: Significant Operating Program These are intended to be used as
Changes. This Appendix provides additional supplemental resources in the
supporting documentation for each of the event that Council members have
significant operating program changes proposed in questions on a program or
the Preliminary Financial Plan. An overview is project as they review the
included in the Appendix that further describes its Preliminary Financial Plan. In
purpose, organization and content. short, while the Council may
choose to read the Appendices
3. Appendix B: Capital Improvement Plan from "cover-to-cover," this same
Projects. This Appendix provides supporting information is summarized in the
preliminary Financial Plan.
documentation for each of the CIP projects
proposed in the Preliminary Financial Plan. An
overview is included in the Appendix that further describes its purpose, organization and
content.
,
1
y 1
Preliminary 2007-09 Financial Plan Page 2
The May 24 and 29 workshops are the first of several study sessions and public hearings
scheduled to review the Preliminary Financial Plan. One of the fundamental purposes of these
workshops is to review these documents with the Council in some depth. Accordingly, we do
not anticipate that the Council will have reviewed all of this material in detail by the May 24
workshop.
Best Place to Start. The Budget Message and Financial Highlights (starting on page A-1) are
recommended as a good starting point in reviewing the Preliminary Financial Plan and in
preparing for the May 24 workshop. It has been written with the goal in-mind of discussing all
of the key issues reflected in the Preliminary Financial Plan in a concise but comprehensive
manner.
Focus of the May 24 and 29 Workshops. As summarized below, the primary focus of these
two workshops will be on General Fund programs and projects; a separate budget workshop has
been scheduled for May 31, 2007, to review enterprise fund programs, projects, revenues and
rates.
May 24 Budget Workshop
1. Overview of key budget issues, strategies and fiscal outlook.
2. Fiscal policies and major City goals.
3. General Fund revenues: key assumptions.
4. General Fund operating programs.
May 29 Budget Workshop
5. Continued review of General Fund operating programs, if needed.
6. General Fund CIP projects (and other non-enterprise fund projects).
7. Follow-up direction from the Council for subsequent workshops and hearings.
Remaining Budget Review Schedule
The following dates have been scheduled for review and adoption of the 2007-09 Financial Plan:
Council BudgetReview Schedule:.Remaining Steps
May 24 Preliminary Financial Plan review; General fund operating programs
May 29 Continued review; General Fund CIP and other non-enterprise fund projects
May 31 Enterprise fund programs, projects,revenues and rates
June 5 Continued Preliminary Financial Plan review
June 19 Continued review and adoption of the Financial Plan; approval of water and sewer rates
Major City Goals and Other Council Objectives
Consistent with Council priorities and direction, all efforts have been made to integrate the
results of the Council's goal-setting process into the Preliminary Financial Plan. The way this has
Preliminary 2007-09 Financial Plan Page 3
been accomplished is discussed at some length in the Budget Message (beginning on page A-1)
and in the Policies and Objectives section(in the"Overview" beginning on page B-3).
As discussed in the Budget Message, all twelve of the Major City Goals set by the Council are
reflected in the Preliminary Financial Plan based on the work programs approved by the Council
on April 10, 2007. The Budget Message also discusses how the "Other Council Objectives" are
reflected in the Preliminary Financial Plan.
ENCLOSURES
1. Preliminary Financial Plan
2. Appendix A: Significant Operating Program Changes
3. Appendix B: Capital Improvement Plan Projects
G:Budget Folders/Financial Plans/2007-09 Financial Plan//Preliminary Financial Plan/Agenda Report