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Terms in this set (47)
What is the Charter deadline for offices and departments to submit their proposed budget for the next fiscal year?
In practice, when are department budget requests usually due to the Mayor's Office and CAO?
What is the Charter deadline for the Mayor to publish his or her budget priorities for the next fiscal year?
Who submits the Revenue Estimates to the Mayor and what is the Charter deadline?
The Controller submits Revenue estimates by March 1st
What is the Charter deadline for the Mayor to submit to the Council the Proposed Budget for the next fiscal year?
After received the Proposed Budget from the Mayor, what are Council's two options? And what is the Charter deadline to take action?
The Council can approve the Proposed Budget as submitted by the Mayor or modify the budget; The Charter deadline for either action is June 1
If the Council chooses to modify the Proposed Budget initially submitted by the Mayor, how many votes are required?
City Council can modify the Proposed Budget by a majority vote.
If Council chooses to modify any part of the Proposed Budget, how days does the Mayor have to veto any modifications made by Council?
5 working days
If the Mayor vetoes any Council modifications of the Proposed Budget, how many days does Council have to overturn the veto and how many votes are required?
The Council has 5 working days to overturn the Mayor's veto with two-thirds vote of all members of Council
What Council Committee reviews the Mayor's Proposed Budget?
The Budget and Finance Committee
True or False. A department without control of its own funds can make an Intra-Departmental Transfer less than $45,000 + CPI with Mayoral approval.
False. A department without control of its own funds can make an Intra-Departmental Transfer less than $35,000 + CPI with only Mayoral approval
What is required if a department without control of its own funds wishes to make an Intra-Departmental Transfer greater than $35,000 + CPI?
In addition to Mayor approval, this transfer needs majority vote approval of Council
True or False. A department with control of its own funds may make an Intra-Departmental transfer under $35,000 + CPI with approval of its board
Whose approval is needed if a department in control of its own funds needs to make an Intra-Departmental transfer over $35,000 + CPI?
Approval of its board and written approval by the Mayor
How much can an Inter-Departmental Transfer be made with only Mayor approval?
Maximum of $50,000
If an Inter-Departmental Transfer is needed more than $50,000, whose approval is needed?
Approval of Mayor and majority vote of Council
If the City Council approves an Inter-Departmental Transfer over $50,000 but the Mayor vetoes, how can council override the Mayor's veto?
City Council can pass a Inter-Departmental Transfer over $50,000 over the Mayor's veto with two-thirds vote
True or False. Appropriated Funds can be transferred to the Reserve Fund or the Unappropriated Balance
What are the two accounts included in the Reserve Fund?
Contingency Reserve Account
Emergency Reserve Account
What is the minimum amount that should be in the Emergency Reserve Account?
It should have a balance not less then 2.75% of all General Fund receipts
What amount is in the Contingency Reserve Account?
The remainder amount in the Reserve Fund over and above the amount required in the Emergency Reserve Account
What is the purpose of the Contingency Reserve Account?
It is a source of additional funding needed as a result of unanticipated expenditures and revenue shortfalls
What is the City Council's goal for the amount allocated annually to the Reserve Fund?
An amount not less than 5% of all General Fund receipts
Who needs to approve a transfer from the Contingency Reserve Account?
1. Mayor recommends, Council majority approval
2. Two-thirds Council vote to override Mayoral veto
Who needs to approve a transfer from the Emergency Reserve Account?
1. Two-thirds Council vote with concurrence of Mayor
2. Three-fourths Council vote with Mayoral veto
What is the purpose of the Emergency Reserve Account?
For use during times of "urgent economic necessity" when there are no other viable source of funds available;
If a catastrophic event requires the use of the Emergency Reserve Account for more than one fiscal year, how is the restoration of the Emergency Reserve Account suspended?
1. By two-thirds vote with concurrence of the Mayor
2. Three-quarters Council vote to override Mayoral veto
The Council sets the date the Restoration of the Emergency Reserve Account is reinstated
What is the purpose of the Budget Stabilization Fund?
To provide a method to prevent overspending during prosperous years and to provide resources to help maintain service levels during lean years
What is an unpaid obligation incurred for current or future services?
By what basis does the City prepare the annual budget?
Modified cash basis of accounting: recognizes revenues when the City receives cash, and appropriations include both cash payments and encumbrances for purchase orders and contractual services
Name the four budget books for the complete Proposed Budget
1. Budget Summary
2. Proposed Budget Book
3. Detail of Departmental Programs (Blue Book)
4. Revenue Outlook
What are the Mayor's Budget Priorities for Fiscal Year 2021-22?
1. Fiscal Stewardshp
2. Equity & Inclusivity Proposal
What are the Mayor's Priority Outcomes?
1. Well-Run City
2. A Livable & Sustainable City
3. A Safe City
4. A Prosperous City
True or False. Each departmental program must align with one of the Mayor's Priority Outcome
Who issues financial status reports throughout the fiscal year to provide information on the condition of City finances?
What is the cumulative goal of the General Fund Reserves Policy
The policy sets a goal that the cumulative balances of the Reserve Fund, Budget Stabilization Fund, and the Unappropriated Balance line item is equal to 10% of General Fund revenues
True or False. The Contingency Reserve Account can only be used for programs approved in the current year budget
Who is responsible for developing the annual Capital and Technology Improvement Expenditure Program?
To the extent possible, how far out does the City project costs for the CTIEP?
Over a five-year term
What is the goal for the minimum target for new capital projects, maintenance of existing assets, and IT improvements for the CTIEP?
1.5% of General Fund revenue.
True or False. There is no required amount for the Unappropriated Balance - Line Item
True. The appropriated amount to this Line Item is determined by the Mayor and City Council through the annual budget process based on this risks in the next years budget
Who can reprogram a prior-year disencumbered fund?
The Mayor and City Council
How long can any encumbered fund remain unspent before it is reverted to its originating funding source?
If an encumbered fund remains unspent for longer than one fiscal year it shall be reverted.
Who is responsible for the overall management of the MICLA program?
Capital equipment purchased with MICLA funding should have a minimum useful life of ___ years with a goal of a useful life of ___ years.
6 years minimum
10 years goal
What is a Mello-Roos Bond?
A bond issued to finance public improvements and services and secured by the levy of specified special taxes
What are the 6 Function categories
Home and Community Environment
Cultural, Educational, and Recreational Services
Human Resources, Economic Assistance, and Development
General Admin and Support
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