To: MAYOR AND CITY COUNCIL
From: JOE HOEFGEN, CITY MANAGER
TITLE
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DISCUSSION AND POSSIBLE ACTION REGARDING THE FISCAL YEAR 2020-2021 CITY MANAGER’S PROPOSED BUDGET AND FISCAL YEAR 2020-2025 CITY MANAGER’S PROPOSED FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM
RECEIVE AND FILE THE FISCAL YEAR 2020-2021 CITY MANAGER’S PROPOSED BUDGET AND THE FISCAL YEAR 2020-2025 CITY MANAGER’S PROPOSED FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM
SET MAY 26, 2020 AS THE DATE TO CONDUCT A PUBLIC HEARING ON THE BUDGET
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EXECUTIVE SUMMARY
The City Charter requires that the annual budget be adopted by June 30, 2020. Public Hearings for the budget and the five-year capital improvement program are scheduled to begin May 26, 2020, and budget adoption is tentatively scheduled for June 16, 2020.
BACKGROUND
As presented, the Fiscal Year 2020-2021 City Manager’s Proposed Budget is a balanced budget and was developed pursuant to the City Council’s adopted financial principles. The Fiscal Year 2020-2025 City Manager’s Proposed Five-Year Capital Improvement Program identifies capital investment required to meet our general plan and other policy goals and to ensure good stewardship of our existing infrastructure. The documents can on the City’s website at Budget and Capital Improvement Program <https://www.redondo.org/services/city_docs/budget_and_capital_improvement_program.asp>.
To meet the June 30 deadline set by City Charter, the approved timeline for annual budget adoption and the five-year capital improvement program approval is:
|
Date |
Meeting |
Action |
|
May 19 |
City Council |
Receive and File Proposed Budget and 5-Year CIP |
|
May 19 |
City Council |
Set May 26, 2020 as the Public Hearing Date |
|
May 26 |
City Council |
Public Hearing - Budget Workshop |
|
May 28 |
Budget/Finance Commission |
Review Proposed Budget and 5-Year CIP |
|
June 2 |
City Council |
Continued Public Hearing |
|
June 8 |
Harbor Commission |
Review Proposed Budget and 5-Year CIP |
|
June 9 |
City Council |
Continued Public Hearing - CIP Workshop |
|
June 11 |
Budget/Finance Commission |
Review Proposed Budget and 5-Year CIP |
|
June 16 |
City Council |
Continued Public Hearing - Budget/5-Yr CIP Adoption |
COORDINATION
All departments participated in the preparation of the Fiscal Year 2020-2021 City Manager’s Proposed Budget and the Fiscal Year 2020-2025 City Manager’s proposed Five-Year Capital Improvement Program.
FISCAL IMPACT
The adopted version of the Fiscal Year 2020-2021 Budget will create the financial guideline for all City operations. The Fiscal Year 2020-2025 Five-Year Capital Improvement Program is a planning document only. Funding for capital projects in the first year of the plan will be approved as part of the Fiscal Year 2020-2021 Budget.
APPROVED BY:
Joe Hoefgen, City Manager
ATTACHMENTS
FY 20-21 Proposed City Budget (Will be Available May 16, 2020)
FY 20-25 Proposed Five-Year CIP (Will be Available May 16, 2020)