Board of Directors Budget Workshop #1


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Meeting Date: 08/03/2020  

Receive, consider and act upon the 2021 Preliminary Budget for The Woodlands Township;
Please reference the 2021 Preliminary Budget binder.
An overview of the 2021 Preliminary Budget and Five-Year Plan was presented at the Special Board Meeting on Thursday, July 30, 2020.  Please reference the 2021 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 2021 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 2020
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 2021 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 has been placed on the agendas for the August 3, August 4 and August 5 budget workshop meetings to provide the Board with flexibility during the budget process to discuss and/or take action on the 2021 Preliminary Budget.
Approve the 2021 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.


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