On Tuesday, February 23, 2016, the Budget Committee met and heard a report from the City's Finance Director regarding the five-year financial forecast for the City's nine main operating funds. These funds include: the General Fund, Community Development, Building, Transit, Water Operating, Sewer Operating, Stormwater, Street Lighting and the Road Operating Fund.
In general, the City's operating funds are in a strong position and are maintaining healthy financial reserves. The presentation however, identified particular challenges and opportunities for the City's General Fund, the Transit Fund, and the Community Development Fund. These three funds may have to rely on reserves in the future to keep up with service demands. City staff is aware of these potential issues and is seeking solutions to ensure long-term financial sustainability for each of these funds.
The Five-Year Forecast document is available online at www.ci.wilsonville.or.us/173/Financial-Forecasting.
During the meeting, the Committee also agreed to a schedule for Budget Committee meetings in May to hear the City Manager's proposed budget for Fiscal Year 2016-17. The meetings are planned to be held on Wednesday, May 18, Wednesday, June 1, and if necessary, on Wednesday, June 8 at the Wilsonville City Hall, 29799 South Town Center Loop East, 6:00 -- 9:00 pm. These meetings are open to the public and public comment is encouraged.
Proposed budget documents are expected to be available to the public on May 9 and will be posted online at www.ci.wilsonville.or.us/budget.