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Macro Workshop and Financial Policies <br /> Staff members develop the budget using guidance provided by the City Council and City <br /> Manager. <br /> The guidance includes the adopted financial policies of the City. These policies are <br /> reviewed and updated annually by the City Council. <br /> The City Council also conducts an annual review of the City's financial results and <br /> condition. The City Council, City Manager and staff review the prior year's audited <br /> financial report, current year budget status and prospects for the future. <br /> The review of the City's Financial Policies and other budget review and development <br /> discussions occur at the annual"Macro Budget Workshop". This workshop provides a <br /> unique opportunity for the City to look at the "Big Picture" of the City's needs and fiscal <br /> programs. <br /> Develop Operating and Capital Budtet Requests <br /> The City budget development process follows set annual/biennial steps. <br /> The City Council adopts a budget and Capital Investment Plan (CIP) <br /> Monitor Results <br /> Once the City Council adopts a budget, it must be monitored closely. <br /> The City Council receives regular reports on the financial status of the many funds that <br /> make up the City's operating and capital budgets. <br /> Additionally, the City conducts a Performance Measurement Program that identifies <br /> numerous activities of the City operations, and establishes goals and measures <br /> achievement of the goals and standards. <br /> This information is shared with the Community. <br /> The process begins again with community input for the next budget cycle. <br />