HomeMy WebLinkAbout2000-02-08 - AGENDA REPORTS - FIN FORECAST BUDGET INPUT (2)NEW BUSINESS
DATE:
SUBJECT:
DEPARTMENT:
CITY OF SANTA CLARITA
AGENDA REPORT
City Manager Appro
Item to be presented
February 8, 2000
FIVE-YEAR FINANCIAL FORECAST AND FY 2000-01 BUDGET
PRIORITIES INPUT
Administrative Services
RECOMMENDED ACTION
Receive report of City's Five -Year Financial Forecast, and provide fiscal year 2000-01 budget
priorities input.
BACKGROUND
Staff has completed the 1999-2004 Five -Year Financial Forecast. The Five -Year Financial
Forecast utilizes several planning and evaluation tools. Among these are: the City's General
Plan, Five -Year Capital Improvement Program, Long -Range Financial Forecast Model, Annual
Budget and Comprehensive Annual Financial Report. Because the general fund contains the
majority of the City's general operating budget, the Financial Forecast is focused on that fund.
The Forecast provides City Council and Management with information on financial projections
given existing revenue and expenditure trends. It provides a tool to evaluate the long-term
impact of current decisions. With this information, City Council and Management can
anticipate potential fiscal problems and make any necessary adjustments to avoid financial
difficulties. It is important to remember that the surpluses and deficits that are shown are
forecasted based on current assumptions. Each year brings new economic conditions and new
local circumstances — and we budget accordingly.
Overall, the City is in good financial health. Our ongoing revenues continue to meet our
ongoing expenditures, a result of the City's conservative approach to the budget. Based on
current trends and projections, it appears that the City's resources for one-time capital needs
and projects will be limited. Staff is seeking input as to the City Council's priorities for the
coming budget year. These priorities will be used to prepare a budget that is in balance, while
at the same time reflecting the priorities of the City Council.
ALTERNATIVE ACTION
None.
FISCAL IMPACT
None.
ATTACHMENTS
None.
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