2006 Performance Based Budget - Laserfiche WebLink

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segmen#. Early August 2005 -Departmental review of individual operating budgets; update projections and requests where necessary. Late August 2005 -Review of entire City 2006 Operating Budget, division by division by the City Controller. Focus on budget targets based on nnulti-year projections. Revisions and changes are made where necessary. ---Late August /early September begins the Council and Public portion of this process. August through September 2005 -Council review ofbudgets -informal hearings over athree- week period where the public and media are invited to attend. Over the past several years no fewer than 20 hours per year of detailed review and analysis have occurred. August 2005 -Official filing of the 2006 Operating Budget with the City Clerk's Office for placement on the Council agenda. Late August 2005 -First reading of the 2006 Operating Budget at Common Council Meeting. Early September 2005 -Second reading of the 2006 Operating Budget and formal public hearing at the Common Council meeting. Members of the public may speak at this meeting. Late September 2005 -Third reading and adoption at the Common Council meeting. Comments on the 2006 Operating Budget are limited to the Council Members at this session. State statutes require that the Common Council pass a budget no later than September 30 for the following year's operating budget. Mid October 2005 - On-sight review of 2006 Operating Budget by the Department of Local Government Finance. This review date is set by the state agency. The actual review process spans several months. Early January 2006 -Determination of year-end cash balances and preparation of the 2006 Capital Budget. Mid January 2006 -Official filing of the 2006 Capital Budget with the City Clerk's Office for placement on the Council agenda. Late January 2006 -First reading of the 2005 Capital Budget at Common Council Meeting. Mid February 2006 -Final budget order from the Department of Local Government covering the City's Operating Budget. This final action fixes all civil city appropriations, tax levies and tax rates. This final budget order is required by state statute to be completed by mid February. Mid February 2006 -Second reading of the 2006 Capital Budget and formal public hearing at the Common Council meeting. Members of the public may speak during this portion of the meeting. Also occurring at this meeting is the third reading and adoption of the 2006 Capital Budget. Comments on the budget are limited to the Council Members during this portion of the xii