ANNUAL BUDGET
FISCAL YEAR 23-24
Explore The Budget
Like most cities, the City of Scotts Valley’s Fiscal Year begins on July 1st and ends on June 30th. The City manages an annual operating budget of $28 million and an additional capital budget of $15 million. The budget includes a combination of general funds and restricted funds that can only be used for designated purposes. The City maintains fund reserves in order to manage cash flow, plan for economic uncertainty and save for future projects. The City’s reserve funds are generally invested in the Local Agency Investment Fund (LAIF) managed by the California State Treasurer’s Office. Fiscal prudence guides the City’s investment policies, reserve policies and expense priorities.
CITY MANAGER'S BUDGET MESSAGE
Click on the image above to view the full City Manager's Budget Message.
BUDGET IN BRIEF
Click on the image above to view the numbers and highlights of the annual budget.
LONG-RANGE FORECAST
Measure Z stopped the immediate fiscal crisis the City faced, however as we project forward into the next 5 -10 years, the City’s financial picture is still unsustainable. The City will need additional revenue sources if it is going to be able to meet the expectations of the community in the areas of street conditions, park amenities, recreation programming, and modernization of our facilities. Click on the image above to read more on the long-range financial forecast.
BUDGET PROCESS
The budget process starts by looking at the previous year's audited financial report and the current year's mid year performance. Then we gather information about expected revenues and expenses for the new year and start to create the annual budget. The Budget Subcommittee consisting of the Mayor and Vice Mayor work with staff to review the budget in detail before it is presented to the full Council for adoption. Click on the image above for additional information on the budget process.