Budget & CAFR

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Budget:

The budget process is based upon in-depth analysis of actual and projected fund balances, revenues, and expenditures. Each City department prepared line item details for the department’s activities and recommended certain service levels and activity goals for the 2017-18 budget year. The Finance Department prepared revenue projections with input from other departments. The City Manager then reviewed individual departmental requests, prioritized activities based upon City Council policy, and made certain adjustments. At the conclusion of this process, the Proposed Budget was prepared and presented for a public hearing, then submitted to the City Council for final review and adoption.

The process for the 2017-18 budget year began in February 2017, with the department heads working on their requests for the upcoming fiscal year. Aside from City staff, there were several opportunities for the public to get involved in the process in order to make their interests and concerns known to the management and the City Council. The first opportunity this year was on March 11, 2017 at the Community Forum on Budget Priorities, where there was a discussion of which projects the City should focus its resources on for the next fiscal year.  On March 21, 2017 a Special City Council meeting to discuss budget priorities was held, and again the public was invited to give their input. By the middle of May, the budget was substantially complete from the staff perspective, and was brought to the City Council meeting of May 17, 2017 for a Draft Budget Presentation to receive further direction from the City Council, again with public input. The final step in the adoption of the budget was the conducting of a formal Public Hearing scheduled for the City Council meeting of June 7, 2017. The City Council approved the budget that evening, and the budget became effective July 1, 2017.

Comprehensive Annual Financial Report (CAFR):

The City of South Pasadena’s Comprehensive Annual Financial Report (CAFR) consists of management’s representations concerning the finances of the City of South Pasadena. It is prepared by the Finance Department in accordance with Generally Accepted Accounting Principles in the United States. Management assumes full responsibility for the completeness and reliability of all of the information presented in the report. The data presented is complete and reliable in all material respects, it is presented in a manner designed to fairly set forth the financial activity of the City’s various funds, and all disclosures necessary to enable the reader to gain a good understanding of the City’s financial activity have been included.

The City has consistently won the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association, which is an achievement for the highest standards in government accounting and financial reporting.

 

 Fiscal Year  Budget      CAFR CAFR Snapshot 
       
 FY 2005-06 N/A    CAFR    N/A
 FY 2006-07 N/A  CAFR  N/A 
 FY 2007-08 N/A  CAFR  N/A 
 FY 2008-09 Budget  CAFR  Snapshot 
 FY 2009-10 Budget  CAFR  Snapshot 
 FY 2010-11 Budget  CAFR  Snapshot 
 FY 2011-12 Budget  CAFR  Snapshot 
 FY 2012-13 Budget  CAFR Snapshot 
 FY 2013-14  N/A CAFR
Snapshot
FY 2014-15 Budget  CAFR  Snapshot 
FY 2015-16 Budget  CAFR  Snapshot
 FY 2016-17 Budget CAFR
Snapshot
FY 2017-18  Budget
   

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