Foster City Announces Budget Schedule

For Immediate Release: February 8, 2019
Contact: Edmund Suen, Finance Director, (650) 286-3265, esuen@fostercity.org

It has been said that the City's budget is one of the City Council's most important policy documents. The budget allocates funding for projects and services and the allocation of funding determines the level of service that will be provided to the community in any given year.

The City of Foster City is in the process of developing its budget for Fiscal Year 2019-2020, which begins July 1, 2019 and ends June 30, 2020.

Although the Fiscal Year 2019-2020 budget is not scheduled to be adopted by the City Council until June, the extensive fiscal planning process has already begun. The City Council will be holding a series of budget meetings at which various aspects of the budget will be discussed. All budget sessions are open to the public and the public is invited and encouraged to attend.

Since the Annual Budget is the tool that enables the City to provide programs and services, attending these sessions is a great place to become involved in and gain a greater understanding of the goals of the community, as well as to ask questions and learn about the City's finances and the City itself. The City Council and City staff welcome and value insights and input from the public on all City issues, including the all-important City budget.

All of the meetings listed below will be held in the Council Chambers, 620 Foster City Blvd. (immediately adjacent to City Hall) and will be televised on FCTV, Comcast Channel 27, AT&T Channel 99 and streaming at www.fostercity.tv. They will also be available on demand after the meeting is concluded.

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.

Budget Meeting Schedule

Monday, February 11 at 6:30 PM: Mid-Year Financial Review; Policy Direction on Preparation of the FY 2019-2020 Annual Budget and Five-Year Financial Plan 

Monday, March 25 at 6:30 PM: Enterprise Funds, Internal Service Funds, Capital Improvement Projects, Water and Wastewater Rates and Special Reports

Monday, May 13 at 6:30 PM: Preliminary Annual Budget & Five-Year Financial Plan (All Funds); Preliminary Master Fees and Service Charges Schedule

Monday, May 20 at 5:00 PM: Consideration of Applications for Non-Profit Agency Funding 

Monday, June 3 at 6:30 PM: Budget Public Hearing and Follow-up from Prior Study Sessions; Public Hearing and Adoption of Water and Wastewater Rates; Public Hearing and Adoption of Master Fees and Service Charges Schedule; Award of Non-Profit Agency Funding

Monday, June 17 at 6:30 PM: Annual Budget Adoption 

Friday, June 28: Annual Budget and Five-Year Financial Plan Publication

###