HomeMy WebLinkAbout#11 - 2025 Budget CalendarSTAFF REPORT
DATE: May 21, 2024
REGULAR
AGENDA ITEM: 2025 Budget Calendar
SUBMITTED BY: Clarissa Hadler, Finance Director
BACKGROUND:
Similar to last year, the City Council is asked to accept the proposed 2025 budget key dates for
planning purposes.
ISSUE BEFORE COUNCIL:
What should the schedule be for developing the 2025 budget? What guidance does Council have for the
2025 budget?
PROPOSAL DETAILS/ANALYSIS:
Included in your packet is a proposed schedule. Staff has already begun working on the CIP. The CIP was
brought to Park Commission in May. The Finance Department along with department heads will work on
the budgets in July and August. A workshop discussion is proposed in July to address Council questions
regarding our debt policy and possible future strategy. Then Council will have a work session to review
the proposed budget prior to certifying the maximum levy in September. The November work session is
included as an optional meeting again this year. The final budget would be adopted and certified to the
County in December.
FISCAL IMPACT:
TBD
OPTIONS:
1) Approve the proposed schedule and provide direction on budget prep
2) Amend and then approve a schedule and provide direction on budget prep
RECOMMENDATION:
If removed from Consent:
“Motion to approve the 2025 Budget Calendar.”
ATTACHMENTS:
• 2025 Budget Calendar
05/13/24 CIP Access Now Available to Department Heads for Reporting/Editing
05/20/24 Proposed Parks CIP to Parks Commission
06/15/24 Proposed CIP listings to Administrator and Finance Director
07/05/24 Revenue and expense budget detail to Dept heads (actuals through June) for use to project balance
of 2024 and 2025 budget
07/09/24 Council Workshop - Debt / CIP Strategy Discussion
07/19/24 Detailed 2024/2025 budget worksheets due back to Finance
7/31 - 8/4/24 Budget review with Dept. Heads, Administrator & Finance Department
08/14/24 Departmental changes completed by Finance
08/15/24 Proposed Budget to Dept. Supervisors for Final Comments
08/27/24 Council Workshop – Proposed Budget
09/17/24 Proposed Budget to City Council For Adoption by Resolution & Property Tax Levy
09/30/24 Proposed Budget (adopted by Resolution) & Proposed Property Tax Levy Certified to the County.
Certify Hearing(s) Dates.
Oct/Nov Planning Commission - Public Hearing on CIP
11/12/24 Council Workshop – Proposed Budget (optional)
12/03/24 Final Budget & Levy Determination Public Hearing 7:00 pm City Hall
12/17/24 Final Budget & Levy Determination (if necessary) 7:00 pm City Hall
12/27/24 Final Levy certified to the County & Adopt Final Budget
CRITICAL DATES
2025 Proposed Budget Calendar
CITY OF LAKE ELMO
05/15/23 Proposed Parks CIP to Parks Commission
05/18/23 Draft CIP Package Distributed to Departments
06/15/23 Proposed CIP listings to Administrator and Finance Director
07/10/23 Revenue and expense budget detail to Dept heads (actuals through June) for use to project balance
of 2023 and 2024 budget
07/24/23 Detailed 2023/2024 budget worksheets due back to Finance
7/31 - 8/4/23 Budget review with Dept. Heads, Administrator & Finance Department
08/14/23 Departmental changes completed by Finance
08/15/23 Proposed Budget to Dept. Supervisors for Final Comments
08/29/23 Council Workshop – Proposed Budget
09/19/23 Proposed Budget to City Council For Adoption by Resolution & Property Tax Levy
09/29/23 Proposed Budget (adopted by Resolution) & Proposed Property Tax Levy Certified to the County.
Certify Hearing(s) Dates.
Oct/Nov Planning Commission - Public Hearing on CIP
11/14/23 Council Workshop – Proposed Budget (optional)
12/05/23 Final Budget & Levy Determination Public Hearing 7:00 pm City Hall
12/19/23 Final Budget & Levy Determination (if necessary) 7:00 pm City Hall
12/28/23 Final Levy certified to the County & Adopt Final Budget
CRITICAL DATES
CITY OF LAKE ELMO
2024 Proposed Budget Calendar