HomeMy WebLinkAboutCommittee of the Whole Packet for 05/21/2018
AGENDA
Committee of the Whole Meeting
6:00 PM - Monday, May 21, 2018
Conferencing Center, 7th Floor, City Hall – 1055 S. Grady Way
1. Initial 2019-2020 Budget Discussion
a) Presentation
Renton City Council
May 21, 2018 AGENDA ITEM #1. a)
2019-2020 Budget Schedule
Council Engagement
Page 2
Council Workshop o Council Reviews Priorities and Business Plan
o Preliminary Forecast
o Review Budget Process With Council
Regular Council Meeting o Public Hearing #1
Committee of the Whole o Council CIP / Budget Status Update
Committee of the Whole o Mayor's Budget Message and Proposed Budget
Committee of the Whole o Budget Overview
o Department Presentations
o Council deliberation
o Department Presentations
o Council deliberation
o Consider draft committee report
Regular Council Meeting o Public Hearing #2
o Public Hearing #3
o Adopt committee report
o 1st reading of budget-related legislation
Regular Council Meeting o 2nd reading and enactment of all budget-related legislation
November 19, 2018
Committee of the Whole
Committee of the Whole
October 22, 2018
November 5, 2018
Regular Council Meeting
October 8, 2018
October 15, 2018
February 16, 2018
May 21, 2018
Committee of the Whole
August 6, 2018
October 1, 2018
AGENDA ITEM #1. a)
Budget Development
Internal Process
Page 3
•Finance staff update updates position budgeting, internal
service rates/indirect costs, provides training for department
staff (April-May)
•Departments prepare budget requests (June)
•Administrators review budget requests & budget balancing
options (July)
•Mayor prepares proposed budget (September)
•Finance compiles preliminary budget (October)
•Mayor presents budget message and preliminary budget to
Committee of the Whole to begin budget deliberation
(October)AGENDA ITEM #1. a)
Public Outreach
Page 4
•Residential Satisfaction Survey
•Mayor’s Budget Advisory Committee
•Three public hearings
•Boards and Commissions
•Public comments at each Council meeting
•Email Finance at finance@rentonwa.gov AGENDA ITEM #1. a)
Long Range Financial Forecast
Page 5
2016 2017 2018 2019 2020 2021 2022 2023 2024
Summary ($ in Million)Actual Actual Projected Projected Projected Projected Projected Projected Projected
Beginning Fund Balance 20.0$ 26.6$ 33.3$ 32.8$ 30.0$ 25.6$ 19.1$ 13.3$ 6.4$
Operating Revenue 121.2$ 108.3$ 99.5$ 100.1$ 101.9$ 103.6$ 105.5$ 107.5$ 109.4$
Base Operating Expenditure (109.5) (91.5) (97.7) (103.4) (108.3) (111.9) (112.9) (115.9) (119.9)
New Programs - - - - - - - - -
Operating Surplus (Deficit)11.7$ 16.7$ 1.8$ (3.3)$ (6.4)$ (8.3)$ (7.4)$ (8.4)$ (10.5)$
1X Sources 4.6$ 1.3$ 1.4$ 2.4$ 2.3$ 2.1$ 1.9$ 1.7$ 0.7$
1X Uses (9.7) (11.3) (3.7) - (0.3) (0.3) (0.3) (0.3) (0.3)
Net Resources - Uses 6.6$ 6.7$ (0.5)$ (1.0)$ (4.4)$ (6.5)$ (5.8)$ (6.9)$ (10.1)$
Ending Fund Balance 26.6$ 33.3$ 32.8$ 30.0$ 25.6$ 19.1$ 13.3$ 6.4$ (3.7)$
$(20.0)
$-
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
2016 2017 2018 2019 2020 2021 2022 2023 2024
Base Operating Expenditure Operating Revenue Ending Fund Balance
AGENDA ITEM #1. a)
Implications for 2019-2020 Budget
Page 6
•This is a very early look –the numbers will change!
•Largest single loss of revenue is due to loss of
annexation sales tax (approximately $3M/year).
•Appears that we can manage without a tax increase
at this time as original contemplated; revisit at mid-bi
or next biennial budget.
•As we update the forecast, we’ll have a better idea if
this will be an “austere budget” or whether we have
the ability to make some adjustments.
•If economy changes, we may need to make further
adjustments.AGENDA ITEM #1. a)
Questions?
Page 7 AGENDA ITEM #1. a)