Long-term Financial Planning and Transparency in Irvine
Monday, November 05, 2018
This month, the Irvine City Council will consider a significant change to how Irvine prepares and approves its budget. The City’s first-ever two-year budget, developed in the context of a comprehensive five-year financial plan, will be before the City Council at its Nov. 27 meeting. A first review will be before the Finance Commission at its Nov. 5 meeting. The Commission also is expected to provide input to planned Community Budget Workshop locations scheduled for early in 2019. Click here for the Nov.5 Staff Report.
City Council approval of a two-year budget cycle would build on the recent Irvine Sunshine Ordinance, which promotes transparency by giving the public an agenda notice of 12 days – four times the minimum amount of time required by California law.
Two-year budgets and five-year financial planning bring more accountability to government spending. This reform, if adopted, would strengthen the City’s already renowned record in providing top quality services to more than 275,000 constituents while maintaining a strong financial position.
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