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Home My WebLink About06/16/2009, PH 1B - ADOPTION OF 2009-11 FINANCIAL PLAN counat Mft.D� 6-16-09 j acEnba Repout CITY OF SAN LUIS OBISPO ,v FROM: Ken Hampian, City Administrative Officer Bill Statler,Director of Finance &Information Technology SUBJECT: ADOPTION OF 2009-11 FINANCIAL PLAN RECOMMENDATION Adopt a resolution approving the 2009-11 Financial Plan and 2009-10 Budget. DISCUSSION After fourteen Council budget workshops and hearings beginning in September 2008, the 2009-11 Financial Plan is ready for adoption. Key features include: 1. Closes the General Fund budget gap, projected at $11.3 million without the corrective budget- balancing actions reflected in the 2009-11 Financial Plan. 2. Provides a balanced budget for 2009-11: operating revenues fully cover operating costs; and reserves are maintained at policy levels; and results in a structurally balanced budget for the long-term. 3. Meaningfully invited community involvement, and responds to what we heard. 4. Effectively integrates Council goal-setting. Changes to the Preliminary Financial Plan In preparing for adoption at this meeting, the Council will have held three budget workshops and hearings on June 4, 9 and 11. We will prepare a follow-up report summarizing Council direction at the conclusion of these workshops and hearings. Final Documents After Council adoption of the 2009-11 Financial Plan, we will prepare and distribute a final version reflecting all approved changes from the Preliminary Financial Plan. Based on these changes, we will also revise and distribute a final version of Appendix A: Significant Operating Program Changes; and Appendix B: Capital Improvement Plan. Along with a standard printed distribution of these documents, they will also be published on the City's web site. Additionally, we will prepare a Budget-in-Brief that highlights the City's budget process, key budget features, major City goals and basic "budget facts." This budget summary is widely distributed: it will be available at all public counters, included with the utility billings in August and published on the City's web site. With this broad distribution, it will also meet our Measure Y reporting commitments to the community on the use of these funds. PNJg - ► Adoption of 2009-11 Financial Plan Page 2 Ongoing Monitoring Adoption of the Financial Plan is the beginning—not the end—of a continuous financial management process. Ongoing monitoring efforts include: 1. Interim Financial Reports. On-line access to "up-to-date" financial information is provided to staff throughout the organization. Additionally, comprehensive financial reports are prepared monthly to monitor the City's fiscal condition, and a concise but comprehensive report is issued on a quarterly basis. These are complemented by special reports such as the quarterly Sales Tax Newsletter, Monthly TOT Report and Monthly Investment Report. 2. Goal Status Reports. Formal reports are provided to the Council on an ongoing basis on status of Major City Goals, other important objectives and Capital Improvement Plan projects. These are supplemented by ongoing updates through Agenda reports, Council Notes and other special reports. 3. Mid-Year Budget Reviews. The Council formally reviews the City's financial condition and makes"course corrections" as needed six months after the beginning of each fiscal year. 4. Financial Plan Supplement for 2010-11. While we prepare a two-year Financial Plan, appropriations are still made annually. As such, we will return to the Council in June 2010 for formal approval of the 2010-11 Budget. However, these "second year" appropriations will be based on the foundation developed during the two-year planning and budgetary process. In short, the Supplement is much like our mid-year budget reviews, and focuses on changes since adoption of the Financial Plan. 5. Comprehensive Annual Financial Report. This year-end report shows the final results of the City's financial operations for all funds. It includes audited financial statements by the City's independent certified public accountant as well as a comprehensive "transmittal memorandum" highlighting key trends and findings about the City's financial condition. Budget Process Review Consistent with our long-standing practice, once the dust has settled for a few months on this Financial Plan process, we will review areas where it went well, and areas where we can improve in the future. This will include soliciting comments from the Council as well as Department Heads, Budget Review Team and key staff from the departments involved in the budget preparation process. This type of analysis has been very valuable in the past in surfacing areas of improvement. After completing this review, we will return to the Council at an appropriate time with recommendations for the 2011-13 Financial Plan process. ATTACHMENT Resolution approving the 2009-11 Financial Plan and 2009-10 Budget G:Budget Folders/Financial Plant2009-1 I Financial Plan/Preliminary Budget/Agenda Reports/Adoption of 2009-11 Financial Plan P HIS- � ATTACHMENT RESOLUTION NO. (2009 SERIES) A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO APPROVING THE 2009-11 FINANCIAL PLAN AND 2009-10 BUDGET WHEREAS, the City Manager has submitted the 2009-11 Financial Plan to the Council for its review and consideration in accordance with budget policies and objectives established by the Council; and WHEREAS, the 2009-11 Financial Plan is based upon extensive public comment and direction of the Council after fourteen scheduled budget workshops and public hearings. NOW, THEREFORE, be it resolved by the Council of the City of San Luis Obispo that the 2009-1.1 Financial Plan is hereby approved and that the operating, debt service and capital improvement plan budget for the fiscal year beginning July 1, 2009 and ending June 30, 2010 is hereby adopted. On motion of ,.seconded by , and on the following vote: AYES: NOTE: ABSENT: the foregoing Resolution was passed and adopted on June 16, 2009. Mayor David F. Romero ATTEST: Audrey Hooper, City Clerk APPROVED: Jo . Lowell, City Attorney P -HA510 4:)F11 G�1R iG. 2"COUNCILD0 DIP 1 ITGAa crTyrnce FFIN DIP 8'AGA&Ai8rC&)MaZ FIRE CHIEF RED FILE IATTORNEY �w DIP MEETING AGENDA ILERK/ORIG OLICECHF 13 DEPT HEADS EC DIP DA &116 ITEM # VTIL DIP O H13 DIR June 11, 2009 c. rti MG2 Dear Mayor Romero and Members of the City Council, I find it very strange to watch T.V. Channel 20 and see Biologist Freddy Ott and Natural Resourses Manager Neil Hb.vlik using GIS systems. Mr. Ott was using his to find squirrels so that they can be killed and Mr. Ha.vlik was using his to track native grass. San Luis Obispo can track squrrels and : 7 grass but cannot afford neighborhood police patrols in order to track and catch vandals and violat= ions committed in our neighborhoods: This is beyond belief. We need police patrols in our worst neighborhoods around Cal Poly, NOW. Not in September, November December or sometime, N-OW. We especially need these patrols at. r_ight:. 4e, have waited 10 years for neighborhood police patrols and the longer this drags on the worse the problems become. We cannot wai4until August and September when culperts again decend and the cycle of problems begin again in our neighborhoods. None of ,you live in my area{tand,_,you can' t imagine what goes on here close to Cal Poly and the gateway to Cuesta College. As a citizen who has paid large amounts of property taxes for years, I resent: the fact that killing squrrels and tracking grass with gadgets takes giority over the health, welfare and safety of our neighborhoods. Please give us relief NOW. Sincerely,