BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Work Study Session to Consider the FY 2017-18 Proposed Operating and Capital Budget.
End
RECOMMENDATION:
Recommendation
A. Receive, review and discuss the FY 2017-18 Proposed Budget;
B. Receive comments and input from the public regarding FY 2017-18 Proposed budget; and
C. Incorporate any changes deemed necessary into the FY 2017-18 Proposed Budget.
Body
SUMMARY:
The District develops the annual budget to allocate the public's funds that are necessary to provide Silicon Valley with safe, clean water for a healthy life, environment and economy. The development of the District's budget is accomplished in an open transparent process providing opportunity for Board and public input.
The District's financial planning and budget development processes are governed by the District Act, section 13 for taxation and section 20 for adoption of the budget. In addition, state and federal laws require annual examinations of financial records. Board Governance Policy EL-4 guides financial planning, budgeting and ongoing financial activities. In accordance with District Act ?20 Adoption of Budget, "on or before June 15 of each year, the board shall meet, at the time and place designated by published notice, at which meeting any member of the general public may appear and be heard regarding any item in the proposed budget or for the inclusion of additional items."
This agenda item presents the Chief Executive Officer's Proposed Budget for Board consideration. The Proposed Budget was planned and developed to enable the District to accomplish the Board's Ends priorities, become more cost efficient, fiscally accountable and provide a balanced annual budget which is sustainable and complies with the District Act and Board's Financial Management Policy (EL-4).
The FY 2017-18 budget was developed based on the Board's FY 2017-18 budget message, which summarizes the Board's priorities. There are 11 priorities for FY 2017-18, whic...
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