City Remains on Target for Balanced FY17 Budget
Dates Announced for FY18 Budget Workshops
February 22, 2017
Today, the City Commission held the first of several budget workshops to discuss the progress of the Fiscal Year 2017 (FY17) budget and plans for the FY18 budget. This is part of the City's ongoing commitment to a transparent and robust budget process.
Results from the first quarter of FY17 verify that the budget plan developed in 2016 through nine public meetings and workshops is reliable with the City's 14 operating funds are on target to end the year with balanced budgets.
As part of the first quarter review, management efforts are underway to adjust the budget in response to reduced electric sales resulting from warmer than anticipated weather and transit staffing adjustments to meet service standards.
Looking holistically at the capital budget, the Commission remained committed to focusing on a Capital Improvement Plan that addresses the most critical issues first. The FY18 CIP will be adopted through a multi-stage process with public meetings, public surveys and a specific focus on funding public infrastructure needs and priorities as they have been currently established.
Additionally, Commissioners approved:
- A transfer of $235,000 from a Police Department Records Management System project to a project for the newly proposed TPD facility study;
- A supplemental appropriation of $20,000 from the State Law Enforcement Trust Fund to increase crime prevention and drug education funding to meet new State law requirements;
- The projected FY18 budget for the CHSP process at $1,807,076 so that the evaluation process for FY18 can begin; and
- Using $1.8 million in unexpended Water RR&I projects from FY16 for FY17 projects.
Overall, the ongoing commitment to transparency, open dialogue, Commission policy actions and constant evaluation of the budget's performance and progress have allowed the City to remain financially strong and set the stage for a positive outlook moving forward.
The next budget updates will be provided on April 5, May 10, June 14, September 13 and September 27. Information is always available through OpenGov and the City's online budget, both accessible through Talgov.com.
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