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SUBJECT: <br />2025/2026 BUDGET RETREAT <br />DATE: <br />J U LY 24, 2024 <br />May - June <br />PAGE 2 OF 16 <br />City Manager's Office reviews all requests for capital <br />projects and develops a preliminary Six -Year Capital <br />Improvements Plan. <br />May - June Departments prepare six -year revenue estimates and <br />requests for operating budgets. <br />Today <br />September 3rd <br />September/October <br />October 15th <br />November 4th <br />City Council Budget Retreat to discuss budget process and <br />to review preliminary recommendations from the City <br />Manager on the Capital Improvements Program. <br />City Manager's Recommended Budget is presented to City <br />Council. <br />City Council held study session(s), as necessary. <br />City Manager's Final Budget is presented to City Council <br />City Council is presented with Resolutions to Adopt the <br />Budget, Appropriate Funds, and Levy Taxes <br />FINANCIAL POLICIES <br />The City's Financial Policies are posted on the Finance Department's webpage, linked <br />here, they are reviewed annually by the Finance Committee, they were last amended by <br />City Council on May 7, 2024. <br />The City's financial policies include an Introduction Section and the following eight <br />Policy Sections: <br />1. General Policies <br />2. Reserve Policies* <br />3. Debt Policies <br />4. Revenue Policies* <br />5. Operating Budget Policies* <br />6. Investment Policies <br />7. Capital Asset Management Policies <br />8. Accounting, Auditing, and Financial Reporting Policies <br />*- Denotes impact to Budget Development <br />CITY COUNCIL COMMUNICATION <br />3 <br />