DATE: January 12, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Russ Truell, Finance Director
Mike Lowe, Comptroller
Michael Walters Young, Business Process Improvement Manager
SUBJECT:
title
Consideration of Resolution 2015-__ A Resolution adopting FY 2016 Budget Goals
body
Purpose
At the last meeting of the Budget & Finance Committee, staff provided information concerning the upcoming FY 2016 Budget Process. As part of that conversation, members of the BOMA were presented with FY 2015 budget goals and asked to reflect upon what goals Board members would be interested in setting for FY 2016. A request was made to advance that discussion to the next available work session.
Attached are several items, including a copy of the FY 2015 Budget goals.
Background
The turn of the calendar means the beginning of a new budget process for the City of Franklin. Fiscal Year 2016 will present similar challenges and opportunities for the City as we endeavor to do our best to provide the citizens and taxpayers the best municipal services possible in the most cost-efficient manner. In order to tackle the challenges of the next fiscal year and beyond, there are several process changes which the BOMA and the public will see throughout the budget process over the next five months. While some things will not change (such as the overall budget calendar) and others will require direct action and review from the BOMA (budget goals), how budget data is presented and evaluated will change. These changes include:
Creation of Revenue Modeling
Beginning with the Budget and Finance Committee Meeting of January 8th, members will notice a new presentation of the General Fund Revenues. This presentation, designed to bring more clarity while simultaneously providing the sub-components of the Top 10 General Fund Revenues, will be utilized again in April when forecasted revenues will be solidified ahead of final budg...
Click here for full text