CITY COUNCIL WORKSHOP AGENDA PACKET

Financial Management for Elected Officials January 2013 Institute for Local Government www.ca-ilg.org 9 • Does the budget summarize major expenses: o By function or program tied to areas of public service(s) or facilities the agency provides? o By category? (Examples include capital expenses, debt service, and operating expenses like staffing, contract services, and supplies). o By fund type? (Examples include the general fund and various enterprise funds, if the agency has special funds). • Is the budget balanced by one-time fixes or is there a sustainable long-term funding strategy (this is also an issue to be addressed in the agency’s long-term financial planning documents, see page 14)? • Does the budget clearly show the beginning and ending balances in each fund (fund balances)? • Is the general fund budget balanced (in other words, are there enough projected revenues to fund estimated expenses)? • Does the budget use one-time revenues only for one-time expenses (rather than ongoing expenses)? • Does any fund have a deficit (in other words, is it projected to spend more than it brings in)? Why? Is it the deficit temporary or permanent? • What are the most significant changes since last year’s adopted budget? • With respect to the agency’s general fund, how is the fund balance projected to change? o How are other funds’ fund balances projected to change? o How will any resulting changes affect the agency’s compliance with its reserve policies? • Does the budget compare actual expenses and revenues from past years so decision-makers and the public can understand how the agency’s budgeted numbers compared to reality? • Does the budget show changes in the agency's overall financial condition? What measures of financial condition does it use? Page 59 of 109