Foster City Announces Fiscal Year 2022-23 Budget Preparation Calendar
For immediate release: February 8, 2022
Contact: Edmund Suen, Finance Director, (650) 286-3265, esuen@fostercity.org
The City of Foster City is in the process of developing its annual budget for the upcoming fiscal year which begins on July 1, 2022 and ends on June 30, 2023. This key policy document allocates funding for operations, projects, and programming, which ultimately determines the level of service that will be provided to the community over the coming year.
The City Council will host a series of public meetings to discuss various elements of the budget before June 20, when the document is slated for adoption. All budget sessions are open to the public and community members are strongly encouraged to attend.
“The annual budget is the planning, policy, and communications tool that enables the City to provide programs and services to the community each fiscal year, so these public meetings offer community members a great opportunity to participate in local government, ask questions, and learn about the City's finances,” said Finance Director Edmund Suen.
Due to evolving public health conditions, community members should check the meeting agenda for more information on ways to participate. The meetings will be televised to watch on FCTV, Comcast Channel 27, AT&T Channel 99 and they will also be available to watch on demand at https://www.fostercity.org/agendasandminutes the next business day after the meeting. The budget development meeting schedule is:
Monday, February 28 at 6:30 p.m.: Mid-Year Financial Review; Policy Direction on Preparation of the FY 2022-23 Annual Budget and Five-Year Financial Plan.
Monday, March 21 at 6:30 p.m.: Policy of Non-Profit Agency Funding for FY 2022-23.
Monday, March 28 at 6:30 p.m.: Enterprise Funds, Internal Service Funds, Capital Improvement Projects, Water and Wastewater Rates, Preliminary Master Fee Schedule, and Special Reports.
Monday, April 18 at 6:30 p.m.: Public hearing on Master Fee Schedule for FY 2022-23.
Monday, May 9 at 6:30 p.m.: Preliminary Annual Budget & Five-Year Financial Plan (All Funds).
Monday, June 6 at 6:30 p.m.: Budget Public Hearing and Follow-up from Prior Study Sessions; Public Hearing and Adoption of Water and Wastewater Rates; Award of Non-Profit Agency Funding.
Monday, June 20 at 6:30 p.m.: Annual Budget Adoption.
Thursday, June 30: Annual Budget and Five-Year Financial Plan Publication.
For further information about the upcoming budget sessions, please contact Finance Director Edmund Suen at (650) 286-3265 or esuen@fostercity.org. Information about City programs and services can be found on the City's website www.fostercity.org.
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