Laserfiche WebLink
Page 2 of 4 <br /> <br />DISCUSSION <br />Cities are required to adopt balanced budgets, with ongoing revenues matching ongoing <br />expenditures. To date, the City has implemented various departmental cost-reduction <br />measures, mostly with minimal service impacts on residents and businesses. However, future <br />budget cuts necessary to achieve a balanced budget may adversely affect community <br />programs. The Budget Advisory Committee will provide critical insights to help the City <br />Manager address constraints on City finances during the development of the next biennial <br />budget. <br /> <br />Purpose <br />The BAC’s mission is to: <br />• Develop an understanding of the City’s budget and financial issues <br />• Provide input to the City Manager on community priorities and strategies for program <br />delivery to ensure a long-term balanced budget <br />• Collaborate with the City Manager to formulate recommendations for City Council <br />approval in June 2025. <br /> <br />The BAC’s work will include: <br />• Reviewing the City’s General Fund budget, department programs, and infrastructure <br />needs <br />• Discussing expenditure reduction strategies and brainstorming cost-saving measures <br />• Providing insight and recommendations on community priorities and cost/service <br />reduction strategies <br />• Gathering timely and comprehensive community feedback, which will be incorporated <br />into the budget process to reflect the priorities and needs of the broader community <br />• Developing recommendations for operating budget reductions and capital project <br />funding strategies. <br /> <br />Timeline <br />The BAC will convene a minimum of three meetings between January and March 2025, with <br />flexibility for additional meetings if necessary. These meetings will be scheduled to align with <br />the City’s overall budget development calendar to ensure that the BAC’s recommendations are <br />timely and relevant for consideration in the proposed biennial budgets. Topics of focus during <br />the meetings will include understanding the City’s fiscal challenges, identifying cost-saving <br />opportunities, and formulating actionable recommendations. At the end of the budget <br />development process, the BAC members may be asked to continue to advise the City <br />Manager on related fiscal initiatives that support the delivery of services and programs to the <br />community. <br /> <br />Composition <br />The BAC will consist of 11 members representing key community stakeholders, including: <br />• 1 representative appointed by the Mayor <br />• 1 representative appointed by the Councilmember representing District 1 <br />Page 293 of 893