Agenda Item Wording:
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Fiscal Year 2026/2027 & 2027/2028 Strategic Budget Goals - Review the biannual budget process for FY 26/27 & 27/28 and establish the biannual budgetary strategic goals.
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Prepared by: Renee Nagel, Finance & Technology Services Director renee.nagel@visalia.gov 713-4375, Amee Swearingen, Budget Analyst amee.swearingen@visalia.gov 713-4170
Department Recommendation: Review the biannual budget process for FY 26/27 & 27/28 and establish the biannual budgetary strategic goals which will be used to shape the budget.
Summary:
Every two years the City of Visalia adopts a biannual budget. The budget's role is to translate the strategic priorities into goals and objectives and show how the proposed expenditures, revenues and capital projects are directly linked to achieving these strategic goals. The budget document is a tool that the City uses to align with organizational priorities that Council has provided as a vision for the future.
Background Discussion:
The City is in the second year of the current adopted biannual budget. The new budget must be adopted by Council before the fiscal year 2026/27 starts on July 1 to have the authority to spend throughout the year. The adoption process requires two public hearings and a resolution from Council. There are many benefits to using a two-year budget. Such as, reinforcing the importance of long-range planning, concentrating on budgeting for the accomplishments of significant objectives, creating a proactive budget that provides for stable operations, promotes more spending patterns, and reduces the amount of time and resources in preparing the budget document.
For the past 30 plus years, the City has received the Distinguished Budget Award through the Government Finance Officers Association (GFOA). The award has mandatory guidelines that the City must meet in order to receive it. Receiving the GFOA award documents that the City follows the best budget and financial management practice...
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