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City Council Meeting Minutes February 26, 2021 <br />needed to ensure it reflects the goals discussed. <br />Mr. Lumbreras introduced Marie Kalka, Finance Director to provide the <br />presentation. <br />Ms. Kalka reviewed the FY 2020 Year End Summary including the: <br />General Fund, Electric Utility Fund. Water/Wastewater Utility Fund, Drainage <br />Utility Fund, Airport Fund, and Hotel/Motel Fund <br />Ms. Kalka outlined the budget development process: <br />• Set strategic initiatives for coming year <br />• Formulate policy statement to guide city manager during budget preparation <br />• Deliver budget capacity and trends <br />• Deliver budgeted programs, revenues, and expenditure philosophy <br />• Deliver proposed budget of all general budget items by fund type <br />Once City Council formulates a budget policy the City Manager works with <br />staff to develop the budget document. <br />The budget timeline was outlined which included the Budget Policy Workshop <br />held today, Public Hearing and Budget Policy adoption in March, Executive <br />Team Budget review in April, Budget Work Session and Capital Improvement <br />Program (CIP) Update in May, budget workshops in June and August, Public <br />Hearing and <br />adoption of budget and tax rate in September, and finally implementation and <br />monitoring of budget to begin with the new fiscal year in October. <br />Ms. Kalka reviewed the federal, state, regional, county and local economic <br />indicators include unemployment, home prices, consumer price index (CPI), <br />and new single family homes. <br />Ms. Kalka outlined the Strategic Initiatives that were approved in draft form <br />on February 24, 2021, these include: <br />• COVID Response <br />• Workforce Development <br />• Workforce Housing <br />• Downtown Vitality <br />• Sustainability <br />There will also be an area of focus on homelessness in the community. <br />Property Tax - 28% of the total budget <br />City of San Marcos Page 2 <br />