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Attachment C <br /> <br />The Budget Process Begins È. <br />Why Is This Important? <br />To better educate the public <br />To encourage civic engagement in the process <br />To aid the Council in policy matters <br />Most importantly, to better serve the <br />public as responsible fiduciary managers <br />The City Budget and Your Budget: <br />TonightÓs Topic, the CIP <br />A Balancing Act <br /> <br />Most household budgets have three types of funds. One for current Unlike other parts of the budget, the <br />expenses; one for anticipated expenses, and one for long term or <br /> CIP tries to look into the future and <br />unexpected expenses. <br /> anticipate long-term needs. <br />The City Government’s budget also has three parts. <br /> The handles the annual expenses such as <br />Operating Budget <br /> Once that is done, we need to bring it <br />salaries, consumable supplies, insurance, etc. <br /> into a more short-term focus as part of <br /> The plans for anticipated <br />CIP (Capital Improvement Plan) <br /> the annual or biennial budget process. <br />expenses such as new vehicles, new roofs, new streets, etc. <br /> The are long-term savings for unexpected expenditures <br />Reserves <br />or for major expenditures that require large amounts of funding. <br /> <br />