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Budget Policies <br />•From Everett’s current policies <br />•Six-year outlook (long-range financial forecast) <br />Be suretodescribe theassumptions and implications <br />Include in the preliminary budget as well (where it is most important!) <br />•Balancingthe Operating Budget <br />Legally balanced versus structurally balanced <br />Consider changing the format of the summary schedule to illustrate this <br />•Fundbalances – 20% for General Government <br />Based on revenues; consider using expenditures as they tend to be more consistent <br />20% is in addition to Contingency Reserve (fund 160) <br />Evaluatetarget level in the context of risks and the economy <br />7