What is a Budget?
A budget is responsible for the development, coordination and long-term planning of the City's financial resources to support strategic priorities, fiscal sustainability and effective operations. This function provides financial analysis, forecasting and budgetary guidance that promotes informed decision-making and responsible stewardship of public funds.Purpose and Function
Key responsibilities include coordinating the preparation and administration of the City's annual operating and capital budgets, developing multi-year financial forecasts, and assisting with the planning and update of the City's five-year Capital Improvement Program (CIP). The division works collaboratively with all City departments to evaluate funding needs, support operational and capital initiatives, and ensure budgetary compliance.The budget also develops and monitors performance measures and benchmark analysis, provides financial information and recommendations to City leadership and elected officials, and supports economic development projects, redevelopment districts, grant-funded initiatives and other community investments that contribute to the continued growth and financial stability of the City.
Benefits of the Budget
- Align financial resources with the City's Strategic Plan and organizational priorities.
- Promote responsible fiscal stewardship and long-term financial sustainability.
- Coordinate the annual operating budget and five-year Capital Improvement Program.
- Improve long-range financial forecasting and decision-making.
- Support performance-based budgeting through organizational performance measures and financial benchmarking.
- Provide transparent financial information to City leadership, elected officials and the public.
- Evaluate funding strategies for capital projects, economic development initiatives, grants and other strategic investments.