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Committee Approves Early Implementation of Two-Year Budgeting for Port, Airport and PUC
Summary
The committee recommended an ordinance to designate the Port, Airport and Public Utilities Commission to begin a two-year budgeting process and five-year financial planning in FY 2010–11; the controller's office said the enterprises have capacity to implement multi-year budgets and training has been provided.
The Budget & Finance Committee on Jan. 13 voted to move an ordinance forward that would require early implementation of a two-year budget and a five-year financial plan for three enterprise departments — the Port, the Airport and the Public Utilities Commission — starting in fiscal year 2010–11.
Monique Samuda of the Controller's Office told the committee the enterprise departments have sufficient resources and training to prepare multi-year budgets. "If this is approved, this will begin the process in this coming budget year fiscal 10/11," she said, describing the controller's plan to include separate budget presentation pages showing year 1 and year 2 figures and a five-year financial outlook. The financial plan will include revenues, proposed expenditures, debt and capital projects and will give supervisors an integrated view of fiscal and programmatic needs across a multi-year horizon.
The committee voted to forward Item 5 with recommendation to the full Board. Committee members asked how the two-year budget and five-year financial plan would align and how enterprise reserves and rate-setting interact with the city's general fund. Controller staff responded that enterprise departments are required to balance each fiscal year and that their fund balances can be used to smooth year-to-year volatility; the financial plan will also identify reserve policies and capital program assumptions.
