Title
Presentation and discussion of Fiscal Year (FY) 2020’s budget and finance policies.
Staff Summary
• Each year, the Financial and Administrative (F&A) Committee uses the prior year’s budget policies as a reference for the discussion of the next year’s budget policies. These policies frame the budget preparation process by providing guidelines for, among other things:
o Balancing the budget/status quo/new or expanded program requests;
o Personnel and vacancy decisions
o Property tax levies;
o Use of video gaming revenue;
o Capital Improvement Plans;
o Debt issuance;
o Reserve requirements; and
o Contingency amounts.
• The purpose of this item is to provide an introduction and overview of the policies. The FY 2021 Budget Policies will be considered at a future F&A Committee meeting.