To: MAYOR AND CITY COUNCIL
From: MARNI RUHLAND, FINANCE DIRECTOR
TITLE
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DISCUSSION AND POSSIBLE ACTION REGARDING THE FISCAL YEAR 2021-2022 CITY MANAGER’S PROPOSED BUDGET AND FISCAL YEAR 2021-2026 CITY MANAGER’S PROPOSED FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM
RECEIVE AND FILE THE FISCAL YEAR 2021-2022 CITY MANAGER’S PROPOSED BUDGET, THE FISCAL YEAR 2021-2026 CITY MANAGER’S PROPOSED FIVE-YEAR CAPITAL IMPROVEMENT PROGRAM, AND BUDGET RESPONSE REPORTS
SET JUNE 1, 2021 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, 2021. Public Hearings for the budget and the five-year capital improvement program are scheduled to begin June 1, 2021, and budget adoption is tentatively scheduled for June 15, 2021.
BACKGROUND
As presented, the Fiscal Year 2021-2022 City Manager’s Proposed Budget is a balanced budget and was developed pursuant to the City Council’s adopted financial principles. The Fiscal Year 2021-2026 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 be found on the City’s website at City of Redondo Beach - Budget and Capital Improvement Program. <https://www.redondo.org/budget>
To meet the June 30 deadline set by City Charter and consistent with the 2021 budget calendar approved by the City Council in January (attached), the approved timeline for annual budget adoption and the five-year capital improvement program approval is:
|
Date |
Meeting |
Action |
|
May 18 |
City Council |
Receive and File Proposed Budget and 5-Year CIP |
|
May 18 |
City Council |
Set June 1, 2021 as the Public Hearing Date |
|
May 20 |
Planning Commission |
Review CIP for General Plan Consistency |
|
May 27 |
Budget/Finance Commission |
Review Proposed Budget and 5-Year CIP |
|
June 1 |
City Council |
Public Hearing - Proposed Budget and 5-Year CIP |
|
June 8 |
City Council |
Continued Public Hearing - CIP Workshop |
|
June 10 |
Budget/Finance Commission |
Review Proposed Budget and 5-Year CIP |
|
June 14 |
Harbor Commission |
Review Proposed Budget and 5-Year CIP |
|
June 15 |
City Council |
Continued Public Hearing - Budget/5-Year CIP Adoption |
COORDINATION
All departments participated in the preparation of the Fiscal Year 2021-2022 City Manager’s Proposed Budget and the Fiscal Year 2021-2026 City Manager’s proposed Five-Year Capital Improvement Program.
FISCAL IMPACT
The adopted version of the Fiscal Year 2021-2022 Budget will create the financial guideline for all City operations. The Fiscal Year 2021-2026 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 2021-2026 Budget.
APPROVED BY:
Joe Hoefgen, City Manager
ATTACHMENTS
2021 Budget Calendar
FY 2021-2022 Proposed City Budget (to be provided by May 16, 2021)
FY 2021-2026 Proposed Five-Year CIP (to be provided by May 16, 2021)