RES 03081 - Laserfiche WebLink

THE CITY OF pL£AS&NTON May 23, 2003 Honorable Mayor and City Council: SUBJECT: FISCAL YEARS 2003-04 and 2004-05 PRELIMINARY BUDGET AND FINANCIAL PLAN INTRODUCTION A. THE BUDGET PLAN SUPPORTS THE CITY'S FINANCIAL POLICIES This document is the City's comprehensive budget plan for ail programs and services for fiscal years 2003-04 and 2004-05. The budget is also a statement of financiai policy. This fiscal plan demonstrates the Council's leadership commitment of providing quality services. The continuation of quality services to the residents of Pleasanton has been possible because of solid community land-use planning which created a diverse revenue stream from the business and residential community to support the cost of providing services to both the business and residential populations. In 1996, an Economic and Fiscal Element was added to the General Plan. The policies in this element strive to meet the following goais: retain and expand Pleasanton's economic base maintain a diverse and stable revenue system recover the costs of providing services and facilities necessitated by buildout of the General Plan maintain a baianced annual budget which provides reserves to meet future obligations, and provides for equipment replacement and maintenance needs limit the use of debt manage the City's financial assets in a sound and prudent manner to assure the long-term ability of the City to provide quality services. In December 1997, the City won a League of California Cities Helen Putnam Award of Excellence for Financial Management for its program "Financing Our Future", which is the City's long-term strategy to ensure its fiscai health. This plan is based on the goals and policies contained in the Economic/Fiscal Element of the General Plan. More recently, the City was granted an Award of Excellence for its 2001-02/2002-03 Operating Budget from the California Municipal Finance Officers Association.