HomeMy WebLinkAbout2.a. Preliminary Budget Workshop (7-7-20)
EXECUTIVE SUMMARY
City Council Work Session: July 7, 2020
AGENDA SECTION:
AGENDA ITEM: Preliminary Update on Draft 2021 Budget
Discussion
PREPARED BY: Logan Martin, City Administrator
AGENDA NO. 2.a.
Jeff May, Finance Director
ATTACHMENTS: None
APPROVED BY: LJM
RECOMMENDED ACTION: Receive update on status of draft 2021 Budget and provide staff
direction on needed modifications.
BACKGROUND
City Staff has been working to prepare the Draft 2021 Budget over the last few months. All departments
have submitted initial proposals, and staff has reviewed each department’s proposal with relevant
departmental leadership.
All staff received direction that, in light of numerous current events, the 2021 Budget needed to be as
conservative as possible. While we do know that our median valued home for 2021 is increasing by 7.01%
(up from $295,200 in 2020 to $314,600 in 2021), staff is still aiming to craft a 2021 Budget that
acknowledges the likely softening market conditions, national unemployment rates, and overall impacts of
the pandemic on taxpayers and businesses.
At the July 7 work session, staff will provide a brief verbal overview of current status of the 2021 Budget.
A full presentation of departmental information and response from the Council will occur at the August
work session.
RECOMMENDATION
Staff requests the City Council receive a verbal update on the 2021 Budget and provide direction on any
needed modifications to the draft 2021 Budget.