The Council will discuss the initial general overview of the City’s current financial condition, key preliminary projections and proposed guidance to be issued to staff as they prepare the FY 2019 budgets.
City staff estimates that the actual FY 2018 revenues may be somewhat less than anticipated – primarily due to a change in the contract for speed camera revenue and state income taxes coming in less than anticipated. For actual expenditures, we expect to be under budgeted levels when looked at in total.
Though we have had the luxury of having significant surpluses the last few years, we do not anticipate a significant surplus for FY 2018 but will end the year close to “break-even” with revenues equaling expenditures. The Council will also discuss the proposed budget Calendar. Staff is requesting the Council to submit requests / specific projects by February 16. The Council plans to hold to full-day budget worksessions on April 14 and 21. Please see the full budget schedule: