Laserfiche WebLink
C <br />BUDGET ADOPTION AND ADMINISTRATION <br />PURPOSE <br />F -3 <br />To establish the policy for the preparation, adoption, and administration of the City's <br />Annual Budget. <br />POLICY <br />A. Revenues and Expenditures. With rare exceptions, the City's policy is to identify <br />and separately budget and account for revenues and expenditures. However, in <br />some cases the Administrative Services Director may determine that certain <br />funding coming in to the City is more properly reflected as abatement to an <br />expense than as revenue; or that certain expenditures of funds are more properly <br />reflected as abatements to revenue than as expenses. The Accounting Division <br />will keep note of all such entries, and maintain the ability to separately identify <br />the component transactions. Examples of transactions where such recording is <br />often appropriate are earnings on compensating balances, which directly offset <br />the City's expenditures for banking services; and credit card processing charges, <br />which decrease actual revenue received. <br />B. Organization and Development of the Annual Budget. Each year the City shall <br />prepare and adopt, by formal Resolution, an annual budget as required by the <br />City's Charter and as provided for in the City's Budget Instructions. <br />The Annual Budget is published in three volumes, the Resource Allocation Plan <br />RAP), the Budget Detail and the Capital Improvement Program (CIP). The RAP <br />provides an overview of each department's mission, functions, statistical <br />information, and budget. It also provides summary information regarding the <br />Capital Improvement Program, as well as summary information for budgeted <br />and historical overall City revenues, expenditures, and fund balances. The <br />Budget Detail contains line by line information regarding operating expenditures <br />for the prior year, current year and budget year. The CIP document provides a <br />summary of current and future planned projects, basic descriptions of each <br />project, the funding source and the scope of work to be performed. <br />The City programs expenditures into four classifications. These are Salaries and <br />Benefits, Maintenance and Operations, Other Charges, and Capital Expenditures. <br />Capital Expenditures are subdivided into Capital Outlay, which is generally <br />used for items of operating equipment or other purchases in excess of $500, and <br />1