Title
PRESENTATION OF THE YEAR-END BUDGET PROJECTIONS FOR THE FISCAL YEAR ENDING JUNE 30, 2018
Body
Issue/Request:
PRESENTATION OF THE YEAR-END BUDGET PROJECTIONS FOR THE FISCAL YEAR ENDING JUNE 30, 2018
Key Issues:
Before the start of a new fiscal year, City departments will project, or estimate, the final anticipated revenues and expenditures. The year-end projections are developed to identify an updated financial condition. In some instances, budgeted amounts are calculated 6 to 12 months before the start of the fiscal year. The process of calculating year-end projections helps refine anticipated revenue and expenditure budget amounts by factoring real-time trend information, unanticpated revenues or expenditures, and cost-savings.
Proposed Committee Motion:
N/A
Background:
Each year, as part of the budget process, City departments project their year-end revenue and expenses. This is an important step to help identify new trends and any unexpected changes that might have occurred during the fiscal year. The updated information is then used to identify an updated net income or loss.
Presenter
Presenter: Jack Feldman, Management Analyst
Recommendation
Recommendation: N/A
Committee Recommendation
Committee Recommendation: N/A