This morning, the City Council’s Budget Committee received a briefing on the revenue outlook for the rest of 2019 and beyond, as well as the overall financial condition of city government. The theme running under all of it: winter is coming.
The Council passed its budget!
And the 2019-2020 budget process comes to a close.
It took nearly nine hours today, but the City Council hammered together most of a budget for the next two years.
Not a lot of meetings this week, but some of the ones that are scheduled are a big deal.
This morning, Budget Chair Sally Bagshaw unveiled the budget “balancing package,” the first draft of the changes that the Council will be making to the Mayor’s proposed 2019-2020 budget. And so starts the “end game” for the budget development process.
Wednesday will be an interesting day.
In an attempt to get better transparency over the city’s large capital projects and provide early warning on those running behind schedule or over budget, the City Council worked with the executive branch to define a quarterly report that lists all the projects and provides additional detail on a handful that have been added to a “watch list.”
The second-quarter report is in; here’s what it says.
This afternoon, the City Budget Office delivered a mid-stream budget update to its revenue forecasts for 2018-2020. Little has changed in the last two months, and that’s bad news for the City Council as it deliberates on the budget for the next two years.