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05/18/2021 15B 2022 Budget TimelineI BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDASTATEMENT Item No. 15.13. For Meeting of: May 18, 2021 ITEM TITLE: 2022 Budget Timeline SUBMITTED BY: Steve Groom, Director of Finance and Budget SUMMARY EXPLANATION: The attached timeline is for planning purposes. Council meeting times are anticipated to be required in October, November and December. Specific dates are noted on the timeline. ITEM BUDGETED: STRATEGIC PRIORITY: M Public Trust and Accountability APPROVED FOR SUBM ITTAL BY THE CITY MANAGER RECOMMENDATION: No action required, informational only. ATTACHMENTS: Description Upload Date Type D 2022 Budget timehne 5/5/2021 Executive Summary 2 FINANCE TO: City Council FROM: Steve Groom, Finance Director DATE: May 5, 2021 RE: 2022 Budget Timeline This is to provide the annual budget timeline for planning purposes, identifying when annual budget process steps occur this year. There are statutory deadlines and public notices that must be met to file our preliminary budget, hold hearings, and adopt Ad Valorem rate and the budget. The attached calendar and timeline provides details. City of Yakima 2022 Budget Budget Timeline During 2021 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Revenue forecasting Jan. 1 Finance � .....................�... .................................................................................................................................................... ........ ........................................ �............ .................................... Internal Dept Reviews Quarterly All Depts ............................................................................................................................................�....... ::::... Council Financial Reports Quarterly Finance Z......,........................................................................................................................ . �.���... r .................................................................................................................................................................................................................................................................. 2020 roll-fwd appropriation Apr. 6 Finance ............................................................................................................................................................................................................................................................................................................. Strategic Planning Apr. 13 City Councilp ................................................................................................................................................................................................. .............. .............. ............. ............ ............. .......................... ............. 2021 MidYear Report Jul. 20 Finance .............................................................................................................................. Senior Staff Budget Kickoff Jul. 1 Finance . .........................................................................................................................................:m::....::............ 2021 Course Corrections Jul. 20 Finance . .............................................................................................................................................................................................................................. Dept Staffing Review Jul. -Aug All Depts--�da ...................................................................................................................................................................................................................................................................... ........ .......................... ........ ......... ......... Policy Issue identification Aug -Oct All Depts �- W— ........................................................................................................................................................................................................................................... County Assessed Value Sep. 25 Co. Assess ............. ............ .................................... ................................................................................................................................ Revenue forecast final Oct. 1 Finance .. ........ ......... ............................................................................................................................................................................................................................................................................................................ Set dates for Nov. Hearings Oct. 5 Finance .............................................................................................................................................................................................................................................................................. ........ ......... City Council Study Sessions Oct. 5,7,12,14 All Hands ....... ..................................................g................................................................................................. Ad Valorem Rate Hearin Nov. 2 Finance ............. ............. ............. ............ .............. ............. ............ ............. .............. .*............... : ............. ......................................................................................................................................................................................................................................................................................................... Budget Hearings Nov. 2,16 Finance ...................................................................................................................................................................... ........................................................ ....... ............. ............ .............. ..... Budget adoption Dec. 7 Finance .,...... Key Deadlines 9/25/21 Property tax valuations from County, preliminary proposed tax rate 9/30/21 Preliminary Budget filed with City Clerk and posted on City website Key Council Meeting Dates: 10/5/21 Presentations to City Council - Budget Basics and Revenue Forecasting 10/7/21 Presentations to City Council - General Fund and Capital Planning 10/12/21 Presentations to City Council - Enterprise Funds 10/14/21 Presentations to City Council - Policy Issues 11/2/21 Public Hearing and Ordinances on Ad Valorem Tax Rate 11/2/21 1st Budget Public Hearing 11/16/21 2nd Budget Public hearing 12/7/21 Council passes Budget Ordinances adopting Budget and tax rate 12/7/21 Budget adoption, and last month of actuals for audit prep 5/5/2021