Irvine Transitions to a Two-Year Budget
Thursday, November 29, 2018
The Irvine City Council voted unanimously at its meeting on Nov. 27 to enhance long-term financial planning by transitioning from an annual budget cycle to a two-year budget cycle.
The two-year budget cycle, beginning fiscal year 2019-20, will be developed in the context of a comprehensive five-year financial plan. A two-year budget promotes transparency, brings increased accountability to government spending, greater stability, and allows for long-term strategic planning. The process provides for enhanced long-term planning and sets spending levels for a two-year period.
The creation of the City’s two-year budget will begin with the Finance Commission reviewing the initial baseline budget in January, followed by the City Council. The public is encouraged to provide input on the budget at the following Community Budget Neighborhood Meetings:
March 5, 2019, 4–5 p.m. – Lakeview Senior Center, 20 Lake Road
March 6, 2019, 6–7 p.m. – Orange County Great Park, 8000 Great Park Blvd.
March 13, 2019, 6–7 p.m. – Quail Hill Community Center, 35 Shady Canyon Drive
March 20, 2019, 6–7 p.m. – Portola Springs Community Center, 900 Tomato Springs
After receiving input from the community, detailed and balanced budgets will be presented to the Finance Commission in April. Following Commission input, the proposed two-year budget and five-year plan will be presented to the City Council for approval in June 2019.
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