Board of Directors Budget Workshop


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Meeting Date: 08/13/2019  

SUBJECT MATTER:
Receive, consider and act upon the 2020 Preliminary Budget for The Woodlands Township;
FISCAL IMPACT:
Please reference the 2020 Preliminary Budget binder.
BACKGROUND:
An overview of the 2020 Preliminary Budget and Five-Year Plan will be presented at the budget workshop meeting scheduled for Monday, August 12, 2019.  Please reference the 2020 Preliminary Budget binder for detailed information regarding revenues, expenditures, capital projects, debt obligations, reserves, and the five-year plan.

As directed by the Board of Directors, the 2020 Preliminary Budget is a "base" budget that provides funding to:
  • maintain existing service levels
  • meet contractual and statutory obligations
  • accommodate community growth
  • account for changing economic conditions
  • continue operating and capital programs/initiatives approved by the Board in 2019
Budget items that do not fall within one of the categories listed above are not included in the preliminary budget; instead, they are submitted separately as budget initiatives.

For the past several years, the Board has taken action to approve the base budget after it has been presented by staff and reviewed by the Board.  This approval has typically occurred at the conclusion of the first budget workshop meeting.  Please note that approving the base budget is not the same action as adopting the 2020 budget.  By approving the base budget, the Board is acknowledging the financial plan for the continuation of existing services, programs and amenities and establishing a foundation on which the budget initiatives can be evaluated for impacts on revenues, expenditures and fund balances.  The Board always has the option of adjusting any portion of the budget before or after its official adoption.

This particular agenda item is included on the agendas for the August 12, August 13 and August 14 budget workshop meetings to provide the Board with flexibility during the budget process to discuss and/or take action on the 2020 Preliminary Budget.
 
RECOMMENDATION:
Approve the 2020 Preliminary Budget (the "base" budget) prior to consideration of budget initiatives in order to establish a foundation on which the budget initiatives can be evaluated for impacts on revenues, expenditures and fund balances.
Attachments
Additional Materials - Revised Chart 8/13/19


    

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