Budget
Overview
Every two years, staff and Council prepare a Biennial Budget document, which commits government resources and services to accomplish the City’s mission of making Arroyo Grande the best place possible for everyone who lives, works, and visits here. Work is now underway to develop the upcoming biennial budget for Fiscal Years 2023- 25. The anticipated 5-step process and timeline for this budget cycle is depicted below:
Step 1: On January 3, 2023, an Arroyo Grande Community Priorities Survey was published. This 5-question online survey was posted on the City website and promoted on social media channels. The survey was open for one month and closed on February 20th. The survey allowed community members to provide input regarding their thoughts on what the top priorities should be for the City over the next 2-3 years. The survey included a combination of multiple choice and short response questions. A summary of the responses is included in Attachment 4 of the March 2, Special Council Meeting Staff Report.
Step 2: At the March 2, Special Council Meeting, Council established 4 major City goals for staff to prioritize for the upcoming biennial budget cycle. The goals were determined based on the results of the community survey and input from the public and staff. This set of priorities will be used by staff to create work plans and a proposed biennial budget.
Step 3: Following completion of the study session, staff will develop a proposed budget by implementing the following steps:
March 14, 2023 - Financial Forecast
Staff presented to Council a 5-year financial forecast with budget assumptions, challenges, goals, and strategies. March 14, 2023 Council Meeting - 12.a Consideration of General Fund Five-Year Financial Forecast
Spring 2023 - Staff Develop Work Plans
Staff will finalize operating and Capital Improvement Plan (CIP) preliminary budgets that reflect the established major City goals and the financial forecast.
May 2023 - Review of CIP
Staff will present a proposed 5-year CIP for review and input from the City Council, and by the Planning Commission for determination of consistency with the General Plan.
Step 4: The proposed operating budgets, work plans, and CIP will be incorporated into a proposed FY 2023-25 Biennial Budget for discussion and consideration by Council in June 2023.
Step 5: Adoption of the FY 2023-25 Biennial Budget will occur by the end of June 2023. Once Council approves the FY 23-25 Biennial budget, FY 23-24 funds will be appropriated on July 1, 2023.