ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to RECEIVE and FILE the 2023 REVISED BUDGET TIMELINE.
Body
BACKGROUND: The City of Peoria is a calendar fiscal year. This requires the City to pass a budget prior to the end of the calendar year. Staff is preparing to start the 2023 Revised Budget process which is the second year of the 2022-2023 Biennial Budget. A full review of the assumptions included in the 2022-2023 Biennial Budget as well as current economic factors will be completed in putting together the 2023 Revised Budget.
Staff anticipates providing a draft of the 2023 Revised Budget on October 11th with initial discussions beginning on October 18th. The public hearing for the 2023 Revised Budget is slated for October 25th with tentative passage of the budget on November 15th. The Budget Timeline assumes weekly meetings up until the passage of the budget.
FINANCIAL IMPACT: N/A
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: N/A
IMPACT IF DENIED: N/A
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Keep taxes and fees competitive.
2. Have an efficient government.
DEPARTMENT: Finance