CITY COUNCIL STAFF REPORT
March 4, 2025 {{section.number}}e
RECEIVE THE BUDGET CALENDAR AND PRINCIPLES AND STRATEGIES FOR PREPARATION AND IMPLEMENTATION OF THE FISCAL YEAR 2025-26 BUDGET RECOMMENDATION:
Receive the Budget Calendar and report on the recommended principles and strategies for preparing and implementing the Fiscal Year 2025-26 (FY 2025-26) Budget and provide further direction as needed.
BACKGROUND:
The development of the annual budget is a cornerstone of municipal management. Each spring, the start of the City Council’s budget process is marked by the presentation of the budget calendar and the Principles and Strategies for Budget Preparation and Implementation.
ANALYSIS:
FY 2025-26 Budget Calendar
The FY 2025-26 Budget Calendar provides milestone events for the FY 2025-26 Budget process (Attachment 1). The dates track with the pace of the prior budget cycle.
Following is a list of the major events included in the attached Budget Calendar:
1. Community Grants process established by the City Council on February 4, 2025
2. Community Grant applications released on February 14, 2025
3. City Council FY 2025-26 Budget Workshop on May 20, 2025
4. City Council adoption of FY 2025-26 Budget on June 3, 2025
5. Community Grants approved by the City Council on June 17, 2025 Budget Principles and Strategies for Preparation and Implementation The approved budget is a policy document expressing the City Council’s goals and priorities for the coming year in the provision of government services. It serves as a financial plan showing the budgetary fund structure and how these funds are appropriated. Finally, the budget is a communication device conveying information on significant budgetary issues and trends.
The attached Principles and Strategies for the Budget Preparation and Implementation guides the preparation of the FY 2025-26 budget (Attachment 2) and the management of Coronado’s assets and services. The list has been fairly static over time, and the major policies and principles are consistent with prior budget cycles.
Staff seek approval of the Principles and Strategies as presented, or direction on changes.
FISCAL IMPACT:
No fiscal impact. This is an information item.
ALTERNATIVE:
The City Council may provide alternative dates to the proposed budget calendar, and principles and strategies for preparing and implementing FY 2025-26 Budget.
CALIFORNIA ENVIRONMENTAL QUALITY ACT:
Not Applicable.
PUBLIC NOTICE:
No notice required.
ATTACHMENTS:
1. FY 2025-26 Budget Calendar
2. Principles and Strategies for Preparation and Implementation of Fiscal Year 2025-26 Budget Submitted By: Administrative Services Department / John Kim