Budget preparation and management is the primary responsibility of the Office of Budget and Evaluation Development. This year-round function is a key component of the City’s overall management of both finance and policy. Our goal is to develop and execute budgets that serve the City in the following four ways:

• Policy Document
• Financial Plan
• Operations Guide
• Communications Guide

Budgets are prepared and managed on the basis of a fiscal year, which begins on July 1st and ends June 30th. As a general term, the “budget” is comprised of two documents: the Annual Operating Budget and the Five-Year Capital Improvement Plan. The Annual Operating Budget specifies the collection of revenues and allocation of expenditures across services of government for a specific fiscal year, while the Five-Year Capital Improvement Plan outlines the sources of and uses for government funds in regards to major infrastructure projects over a five-year period, starting with the fiscal year for the corresponding Annual Operating Budget.

The Capital Improvement Program (CIP) serves as a guide for the efficient and effective provision of public services and facilities. It proposes the development, modernization, or replacement of public physical assets over a multi-year period, arranges these projects based on priorities, and assigns an estimated cost and anticipated method of financing for each project. The CIP represents the City’s long-range plan for the development of the City as a schedule of public improvements that identifies present and future needs and priorities.

The CIP touches each city resident and visitor through the provision of health, safety, transportation, recreation, and utility services. As a policy tool, the CIP provides information for groups interested in City growth and development need in order to make investment decisions, and it is a statement of intention for federal and state agencies that provide grants-in-aid to the City. Benefits of the CIP and its development process include:

• • Promoting the strategic use of the city’s limited financial resources
  • Examining and prioritizing the needs of the city, assuring that the most essential improvements are provided first
  • Coordinating and consolidating departments’ requests, avoiding duplication of projects and equipment
  • Identifying the timing, phasing, location, and funding of all capital improvements in a comprehensive manner
  • Allowing for sufficient time for investigation of project financing, implementation measures, and proper technical design
  • Coordinating physical planning to ensure maximum benefit from available public funds
  • Attempting to provide an equitable distribution of public improvements throughout the City
  • Providing a basis for formulation of long-term debt programs and a basis for the pursuit of state and federal aid