llID CityofDowney AGENDA MEMO
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APPROVED BY
CITY MANAGER
TO:HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM:OFFICE OF THE CITY MANAGER
BY: STEPHEN W. HANNAH, DIRECTOR OF FINANCE
DATE:JANUARY 9, 2024
SUBJECT: BUDGET CALENDAR FOR 2024-2025 FISCAL YEAR
EXECUTIVE SUMMARY
The City Council will review and approve the Budget Calendar for the Fiscal Year 2024- 2025 Budget process, which covers the fiscal year beginning July 1, 2024 and ends on June 30, 2025.
RECOMMENDATION
(.That the City Council:
Approve the attached Budget Calendar for the Fiscal Year 2024-2025 budget.
BACKGROUND
The budget calendar establishes various deadlines to ensure the budget process is completed in a timely manner. Pursuant to the Downey Municipal Code, the annual budget must be adopted before June 30th of each fiscal year.
There are a few key dates listed in the Budget Calendar that encompass the City Council.
The City Council Budget Goal Setting Workshop is schedule for February 2024. The Budget Subcommittee is tentatively scheduled to review the Budget the week of May 8- 10, 2024, while the Budget Workshop is tentatively scheduled for May 20-23, 2024.
Additionally, the Public Hearing and Budget Approval is scheduled for May 28, 2024 or June 1 1, 2024, where the City Council will adopt the budget for Fiscal Year 2024-2025.
CITY COUNCIL PRIORITIES
Fiscal Responsibility
Efficiency and Adaptability
Public Engagement
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FISCAL IMPACT
None
APPROVAL OF THE FISCAL YEAR 2024-2025 BUDGET CALENDAR
JANUARY 9, 2024
PAGE 2
ATTACHMENTS
Attachment A: Budget Calendar
Attachment A
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