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City Preparing 2019-20 Budget

Post Date:05/17/2019 4:15 PM

City staff and the City Council are hard at work on the City of Sausalito's fiscal year 2019-20 budget, which covers the time period July 1, 2019, to June 30, 2020. By state law, the City must adopt its annual budget appropriation authorization before a new fiscal year begins.

The City enters into the 2019-20 budget process in strong financial condition, with an undesignated general fund balance of $3.06 million for fiscal year 2018-19.

Fiscal year 2019-20 is the second year of a two-year budget cycle which began on July 1, 2018. A preliminary budget for 2019-20 was set as part of the 2018 budget process, so next year's budget focuses on tweaking the numbers approved last year rather than starting from scratch. The preliminary 2019-20 budget approved in June 2018 called for general fund revenues of $17,792,079 and expenditures of $17,457,057.

City staff and the City Council will adjust the preliminary 2019-20 budget using a modified zero-based budgeting methodology that requires departments to take a programmatic approach to the budget and prioritize any proposed new expenditures in terms of impact on the service levels to the community. The City Manager and the City Council will then determine which new expenditures will be approved as part of the revised budget.

The revised 2019-20 budget is expected to make the following assumptions about increased revenue:
  • Property tax revenue will increase by 1.5%, based on prior year trends and information provided by the County of Marin. Property tax is the City's largest revenue source.
  • Sales tax revenue will increase by about 2%, based on information provided by the City's sales tax consultant.
  • Transient occupancy tax revenue will also increase, based on additional revenues from Sausalito Measure L, which was passed by voters in November 2018.
The City Council received presentations on the status of the 2018-19 budget and the 2019-20 budget process at its meeting on Tuesday, May 14. According to the schedule for the 2019-20 budget, the next steps in the process are a review of the base budget and capital improvement projects by the Finance Committee on May 21, followed by City Council review on May 28. Formal adoption of the 2019-20 budget is tentatively set for the City Council meeting on June 18. All meetings are open to the public, live-streamed, and video recorded.

WATCH THE 2019-20 BUDGET PRESENTATION TO THE CITY COUNCIL ON MAY 14
GET REPORTS FROM THE CITY OF SAUSALITO FISCAL TRANSPARENCY TOOL
VIEW AN ARCHIVE OF CITY BUDGET DOCUMENTS
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