For City Council Meeting [June 11, 2019]
TO: Honorable Mayor and City Council
APPROVAL: Sean Grayson, Interim City Administrator
FROM: Jessica Brown, Finance Director
Title
Request City Council to Set a Public Hearing for June 25, 2019, to Approve and Adopt the Budget Plan for Fiscal Year 2019-20.
Body
BACKGROUND:
In accordance with Section 2.04.140 of the Rialto Municipal Code, the City Administrator must present the fiscal budget to the City Council for approval annually. Under the direction of the Finance Director, the Finance Division conducts the analysis and makes the projections required to complete the budget document after receiving input from all of the City departments. The process begins in March and requires the cooperation of staff organization-wide.
The Finance Director and Interim City Administrator have met with the Budget Committee and presented draft budget projections.
ANALYSIS/DISCUSSION:
In accordance with Section 2.04.140 of the Rialto Municipal Code, staff hereby submits the budget plan for fiscal year 2019-20 for City Council consideration. The budget submitted is a one-year financial plan, for which an appropriation is submitted concurrently with the budget document. The budget presentation consists of eight categories of funds as follows:
*?General Fund
*?Special Revenue Funds
*?Enterprise Funds
*?Internal Service Funds
*?Rialto Utility Authority
*?Rialto Housing Authority
*?Capital Projects Funds
*?Debt Service Funds
General Fund
This is the general operating fund of the City. All general tax receipts and fee revenue not allocated by law, Council policy, or contractual agreement to other funds, are accounted for in the General Fund. General Fund expenditures include operations traditionally associated with activities that are not required to be accounted for or paid by another fund.
Special Revenue Funds
The City's various special revenue funds include grant program funds and other funds that by law are required to be s...
Click here for full text