Current City Budget

FISCAL YEAR 2022 quarterly BUDGET updates

It is projected that it will take time for the City’s revenue sources to reach levels prior to the pandemic. As a result, the City faces projected deficits on the horizon followed by a period of recovery. For Fiscal Year 2021-22, the General Operating Fund projected a negative operating balance of $4.4 million; however, by utilizing Excess Education Revenue Augmentation Fund (ERAF) funding, a limited-period revenue source, to smooth the impacts of lost revenue due to the COVID-19 pandemic, the budget remains balanced. In the Five-Year Forecast, the following two fiscal years project negative operating balances of $4.6 million and $1.5 million. The fourth and fifth fiscal years are balanced primarily due to projected revenue growth from property, sales, and hotel taxes.

The Fiscal Year 2021-22 Annual Budget, Water, Wastewater, and Trash and Recycling Rates, and Various City Fees were presented to the City Council at a public hearing on Tuesday, June 8, 2021, and adopted at the second public hearing on Tuesday, June 22, 2021.

Fiscal Year 2021-22 Adopted Budget Report

Fiscal Year 2021-22 Adopted Budget Report Presentation

Fiscal Year 2021-22 Recommended Budget Report

Fiscal Year 2021-22 Recommended Budget Report Presentation

fiscal year 2020-2021 QUARTERLY BUDGET UPDATES

Due to the ongoing uncertainty created by the COVID-19 pandemic, and the resulting effects on the City's budget situation, quarterly updates are being presented to keep the public informed of possible impacts to the City's financial situation and outlook.

Budget Update (Q1) Staff Report

Budget Update (Q1) Presentation

Midyear Budget Status Report (Q2) Staff Report

Midyear Budget Status Report (Q2) Presentation

Budget Status Report (Q3) Staff Report

Budget Status Report (Q3) Presentation

Fiscal Year 2020-21 adopted Budget

The City has historically taken proactive and strategic steps to ensure the City’s fiscal health and sustainability, including diversifying its revenues, adopting a structurally balanced annual budget, funding long-term needs, and maintaining prudent reserves. These practices have positioned the City to better withstand the economic disruption caused by the COVID-19 pandemic.

Consequently, based on the assumption that Shelter-in-Place restrictions would be lifted by June 30, 2020, the projections included in the Adopted Budget indicate the City could maintain current service levels in Fiscal Year 2020-21 with sufficient revenues to fund operating expenditures, including salary and benefit costs, and other priorities. Notably, unlike in past years, there is a limited amount of funding available for long-term liabilities and strategic reserves and, in an abundance of caution, the City is filling staffing vacancies on a case-by-case basis, prioritizing sworn safety personnel and positions critical to COVID-19 response efforts.

Taking into account the ongoing situation of the global pandemic, development of the Fiscal Year 2020-21 Adopted Budget incorporates the following priority areas:

Essential service delivery and COVID-19 community response efforts, including services for the most vulnerable residents;

Return or recovery of Citywide operations once the Shelter-in-Place order is modified;

Economic development and small business strategy efforts;

Public communications, engagement, and community-building;

Strategic planning for the future, with an emphasis on innovation, efficiency, and operational improvements designed to better serve the community and achieve desired outcomes as we adapt to the crisis and the “next normal.”

The Fiscal Year 2020-21 Annual Budget, Water, Wastewater, and Trash and Recycling Rates, and Various City Fees were presented to the City Council at a public hearing on Tuesday, June 9, 2020, and adopted at the second public hearing on Tuesday, June 23, 2020.