TO: Committee of the Whole - Finance, Administration, and Communications
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Finance
Kelley Cochran
425-556-2748
DEPARTMENT STAFF:
Finance
Haritha Narra
Deputy Finance Director
TITLE:
title
Budget Process Update: Long-Range Financial Strategy and Fiscal Policies Feedback Review & Budget Process Ground Rules
OVERVIEW STATEMENT:
recommendation
As part of the City's ongoing commitment to sound financial stewardship, the Long-Range Financial Strategy and the Fiscal Policies documents are currently being updated to reflect changing economic conditions, emerging community priorities, and best practices in municipal Finance. During the April 14 study session, Council was presented with draft versions of the updated Long-Range Financial Strategy and the updated Fiscal Policies, along with an overview of the draft recommendations that incorporate updated assumptions, clearer policy direction, and enhanced alignment with the City's strategic goals. Council was provided with the opportunity to review the draft documents via the Council SharePoint site and provide feedback.
Additionally, in preparation for upcoming Council budget deliberations in the fall, the preliminary budget review ground rules have been attached for Council's review.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
City of Redmond Long-Range Financial Strategy
City of Redmond Fiscal Policies
* Required:
City policies require routine updates to the Long-Range Financial Strategy.
City and State policies require routine updates to the Fiscal Policies
* Council Request:
N/A
* Other Key Facts:
The review and update process for the Long-Range Financial Strategy and Fiscal Policies is included in the biennial budget process. The current update is significant, and it is important to discuss the ...
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