City of Concord, California

Budget and 10-Year Plan

FY 2017-18 and 2018-19 budget

Adopted Biennial FY 2015-2016 and 2016-2017 Budget

The FY 2015-2016 and 2016- 2017 Budget and 10-Year Plan presented below was adopted by Concord City Council Resolution No. 15-45 on June 23, 2015. The budget took effect on July 1, 2015. The City's fiscal year runs from July 1, 2015 to June 30, 2016.

Adopted Biennial Operating Budget for FY 2015-2016 and 2016-2017 (Full version: Includes FY 2015-2016 Capital Improvement Program)

Budget and 10-Year Financial Planning Process

We develop projections of revenue and expenditure over a 10-year period for all major funds of the City, including the General Fund, the Internal Services Funds (ISF), the Enterprise Funds, the Redevelopment Agency funds, and the Capital Improvement Program.  The projections indicate all projected sources of revenue and all projected expenditures, including salaries, benefits, materials, services and capital improvement projects (CIP).  As a principle, the Enterprise Fund programs are self-supporting, with those using the services paying user fees to support them.  Where there is a limited public benefit in providing such services, fees are collected to cover a large portion of program costs.

The financial plans are revisited every year by Staff who reviews the assumptions that influence the projections, including CIP inflators, Sales Tax, Property Tax, Vehicle License Fee, Transient Occupancy Tax, fees and charges, and projections on the condition of the overall economy.  Each year, all the ingredients that go into the plan are updated and adjustments are made as necessary.

What looks healthy in the short term may not prove to be supportable over the long term when planning factors are considered.  Where problems in funding the 10-year period are identified, strategies are developed ahead of time, to make necessary adjustments.  Re-allocating resources by shifting resources from programs of lower priority to higher priority is also considered.  Since the organization began 10-Year Financial Planning, financial stability has been realized and maintained.

 
City of Concord CA