Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance Budgeting topic
No spam. Unsubscribe anytime.
Staff outlines multi-year budget outlook; council to schedule budget meetings
Summary
Universal City staff presented a proposed budget document change on March 4 that will include four-year projections beyond the current fiscal year to provide a longer-term view for council and staff planning; staff will prepare a budget calendar and one-on-one meetings with council members ahead of July public hearings.
Universal City staff told the City Council on March 4 that upcoming budget documents will include projections for four years beyond the current fiscal year to give the council and staff a longer-term perspective when planning capital replacements and operating needs.
The staff presenter said council members had previously requested a five-year outlook but staff concluded adopting a fixed five-year budget would be impractical because it would limit future councils’ discretion. Instead, the proposed change is a “5-year outlook” approach: the published document will include prior-year actuals, the current-year budget and actuals as of March 31, plus projections for four additional years beyond the current budget.
Staff outlined next steps: incorporate the projections into the budget document, prepare a budget calendar and schedule meetings with council members in May and June, and hold at least two one-on-one sessions with each council member before the July public hearing on the budget. Staff said the approach is intended to help the city plan for recurring equipment replacements — for example, setting aside smaller annual amounts so a larger purchase (such as fire or police equipment) can be funded in a later year.
Council members expressed support. No ordinance, appropriation or multi-year budget was approved at the meeting; staff said the change is procedural to improve forecasting and will be incorporated into the fiscal-year 2025 budget process.
