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Council Meeting Date: March 5, 2018Agenda Item: 8(b)CITY COUNCIL AGENDA ITEM CITY OF SHORELINE, WASHINGTON AGENDA TITLE:Discussion of Ordinance No. 816 Establishing a Biennial Budget Process DEPARTMENT:

How to fill out establishing biennial budgeting process

How to fill out establishing biennial budgeting process

1. Start by analyzing the current budgeting process and identifying areas for improvement.
2. Set specific goals and objectives for implementing the biennial budgeting process.
3. Develop a detailed timeline and schedule for the budgeting process, outlining key milestones and deadlines.
4. Gather relevant financial data and information, including historical budget data and projections for the next two years.
5. Engage key stakeholders, including department heads, finance staff, and elected officials, to gather input and gain buy-in for the new process.
6. Develop a framework for the biennial budget, including revenue projections, expenditure categories, and decision-making criteria.
7. Allocate resources based on priorities and strategic objectives, considering both short-term and long-term needs.
8. Conduct a thorough review and analysis of the proposed budget, ensuring alignment with organizational goals and legal requirements.
9. Seek feedback and input from the public through community forums or online platforms.
10. Revise and finalize the biennial budget based on feedback and considerations.
11. Present the budget to the appropriate governing body for approval.
12. Implement the approved budget, closely monitoring financial performance and making adjustments as necessary.
13. Conduct periodic evaluations and assessments of the biennial budgeting process to identify areas for further improvement.

Who needs establishing biennial budgeting process?

1. Government agencies and departments at various levels (federal, state, local) that require a more efficient and effective budgeting process.
2. Nonprofit organizations that aim to enhance their financial planning and resource allocation.
3. Educational institutions seeking a structured approach to budgeting and financial management.
4. Businesses and corporations that want to align their budgeting cycle with long-term strategic planning.
5. Financial institutions and banks that need to accurately assess the financial stability and risk profiles of their clients.

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What is establishing biennial budgeting process?

The establishing biennial budgeting process is a financial planning approach where budgets are created and approved for a two-year period, allowing for more strategic allocation of resources and improved fiscal management.

Who is required to file establishing biennial budgeting process?

Typically, state and local government entities, including agencies and departments, are required to file for the establishing biennial budgeting process, as mandated by specific laws or regulations.

How to fill out establishing biennial budgeting process?

To fill out the establishing biennial budgeting process, entities must collect relevant financial and operational data, categorize expenditures and revenues, and submit a formal budget proposal outlining financial projections and resource allocations for the two-year period.

What is the purpose of establishing biennial budgeting process?

The purpose of the establishing biennial budgeting process is to enhance long-term fiscal planning, improve budgetary efficiency, ensure more consistent funding, and enable better allocation of resources across a longer time frame.

What information must be reported on establishing biennial budgeting process?

The information that must be reported includes projected revenues, planned expenditures, funding requests, performance metrics, and justifications for budgetary allocations over the biennial period.