Proposed budget ‘retools for results’
The Folsom City Council heard the city manager’s proposed budget for the fiscal year (FY) 2015-16 at the council meeting April 14.
“Over the last several years we’ve been delicately balancing our budget between the two fiscal bookends of sustainability and our 95630 service delivery,” said City Manager Evert Palmer, noting the difficulty of such a task during the recession.
Palmer said the budget proposed for FY 2015-16 is “distinctly different” because the city is on the road to recovery.
Whereas last year’s foundations included removing negative fund balances and paying off debt, Palmer said the theme for this year’s proposed budget is “retooling for results.”
The three principles of the proposed budget include fiscal sustainability, retooling for results and investing for the future. Priorities for the budget include building a fund balance, strengthening basic core services, addressing deferred maintenance and equipment needs and addressing service levels that were reduced during the recession.
Jim Francis, finance director for the City of Folsom, presented the proposed budget, including such relevant topics as the economic environment and the “new economy,” a general fund overview including revenue and expenditures, enterprise funds, capital improvement projects and a 5-year forecast.
To see the presentation slides and the budget proposal in full, visit folsom.ca.us.
A public hearing will take place regarding the proposed budget at the next City Council meeting Tuesday, April 28 at City Hall, located at 50 Natoma St. in Folsom. The regular City Council meeting begins at 6:30 p.m.