DATE: November 30, 2018
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Kristine Tallent, Assistant City Administrator/CFO
Michael Walters Young, Budget & Strategic Innovation Manager
SUBJECT:
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*Consideration of Resolution 2018-104, a Resolution to Adopt Budget Goals for FY 2019-2020
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning budget goals for the 2019-2020 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 previous years in two respects:
1) Budget goals are divided into three categories: Financial, Non-Financial and Specific for FY 2020.
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
2020 are also important as the completion of short-term, measurable accomplishments is key to
demonstrating how effective resources were allocated and spent in any given fiscal year.
2) Inclusion of FranklinForward. Like previous years, the goals of the City’s strategic plan have been
integrated where applicable to the proposed budget goals for the next fiscal year.
Financial Impact
There is no direct financial impact from the adoption of the list of goals for FY 2019-2020, 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 2018-104.