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20040706 r-04-50l RESOLUTION NO. R-04-50 BUDGET PROCESS WHEREAS, the City of Fairfax currently has a favorable balance between residential and commercial sources of revenues; and WHEREAS, the City Council wishes to insure that this balance is maintained; and WHEREAS, in order to achieve the above, the City Council needs to exercise careful deliberations throughout the budget process; NOW, THEREFORE, BE IT RESOLVED THAT: 1. The Mayor and City Council shall develop general guidelines for the budget and provide them to the City Manager by October 31; and 2. The Capital Improvements Program shall be considered by the City Council prior to its consideration of the annual budget; and 3. Where appropriate, revenues related to expenditures shall be reflected in the proposed budget documents; and The Mayor and City Council shall meet with selected boards and commissions in work sessions as part of the budget deliberations to review budget items concerning areas of interest to the boards and commission; and 5. The Mayor and City Council shall conduct a mid-point review of the implementation of the budget. Adopted this 6th day of July, 2004. Mayor