SS - Staff Report
PREPARED BY: STEPHEN CONWAY
Finance Director
Reviewed by: Town Manager and Town Attorney
TOWN OF LOS GATOS
STUDY SESSION REPORT
MEETING DATE: 02/21/2017
DATE: FEBRUARY 15, 2017
TO: MAYOR AND TOWN COUNCIL
FROM: LAUREL PREVETTI, TOWN MANAGER
SUBJECT: BUILDING THE TOWN’S BUDGET: BUDGET PRINCIPLES AND FINANCIAL UPDATE
REMARKS:
The study session, entitled “Building the Town’s Budget: Budget Principles and Finance
Update,” provides an opportunity for the Town Council to ask questions regarding the Town’s
budget and financial reports. Staff will make a brief presentation, providi ng an opportunity for
Council questions and discussion, as well as community comments.
The staff presentation is based on inquiries received by the public to give the Council similar
information that has been provided to the community, including:
What are the Town’s Current Financial Strengths?
Budget Principles and Five Year Forecast
Overview of budget performance over the past ten years
Review of Town Fund Types, Internal Service Funds, and fund balances
How is the Town Preparing to Address Future Challenges?
CalPERS Pension Rates/Unfunded Liabilities
Other Post-Employment Benefits
Infrastructure Investments
In addition to the FY 2016/17 Mid-Year Budget Update report that is scheduled for the Council’s
consideration at the regular meeting, other financial reports are available at the following links:
Town of Los Gatos Operating Budget FY 2016/17
Town of Los Gatos Capital Improvement Plan FY 2016/17 through FY 20/21
Town of Los Gatos Comprehensive Annual Financial Report dated June 30, 2016