DATE: November 19, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Michael Walters Young, Business Process Improvement Manager
SUBJECT:
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Consideration of Resolution 2015-99, a Resolution to Adopt Budget Goals for FY 2016-2017 (12/03/15 Finance 3-0)
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning budget goals for the 2016-2017 Fiscal Year
Background
It is customary to include a list of goals in the budget document of the City. The creation and approval of a series of broad and diverse policy statements is an important step in the proper execution of the annual operating and capital budget processes. This year’s goals are similar to last years in two respects:
1) Budget goals are divided into three categories: Financial, Non-Financial and Specific for FY 2017. Although a budget is at its heart a financial plan which allocates resources for various purposes, it is important that it also serve as a policy document. To that end, the inclusion of non-financial goals is important as it places the budget in context with other policies made by the City. Specific goals for FY 2017 are also important as the completion of short-term, measureable accomplishments is key to demonstrating how effective resources were allocated and spent in any given fiscal year.
2) Inclusion of FranklinForward. Like last year, the goals of the City’s strategic plan have been integrated where applicable to the proposed budget goals for the next fiscal year. They are designated in Attachment A by the appropriate thematic icon from the strategic plan.
There are 30 goals proposed in total - 7 financial goals, 12 non-financial goals and 11 specific Fiscal year 2017 initiatives.
Financial Impact
There is no direct financial impact from the adoption of the list of goals for FY2016-2017, however adoption of these goals will directly influence budget recommendations for all funds for the upcoming fiscal year.
Recommendation
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Staff recommends adoption of the Resolution 2015-99 and forwarding to the BOMA.