Overall, the goals of the City of Walnut Creek in the development of its biennial budget are to:

• Further the City’s mission, vision, and values;

• Establish a comprehensive financial plan that supports the provision of high-quality services
  that are responsive to community priorities and desires in an effective and efficient manner;

• Strike a balance between maintaining fiscal health and continuing to provide programs and
  services to the City’s many and varied customers. Striking this balance is important both in
  times of financial difficulty and in times of financial growth.

• The Proposed Budget from the City Manager and the Adopted Budget by the City Council shall
  be balanced and comply with all legal requirements.

• The City’s mission, vision, and values and the City Council’s priorities and direction shall be
  used by departments to strategically guide the budget development process. Departments
  should tie goals and funding requests to the City’s priorities, mission, and/or vision.

• When faced with financial difficulty, the City should identify budget-balancing strategies that
  address both short- and long-term budget gaps, while also minimizing the impact of budget
  reductions to the community and City employees. In instances in which the Long Term
  Financial Forecast projects budget shortfalls in future years, a multi-year budget balancing
  approach should be considered (i.e. long-term gaps may not feasibly be closed in a single
  budget cycle).

• During times of financial recovery and growth, it is important that the City remains adaptable to changing conditions and is able to regenerate in the face of setbacks. Under these
  circumstances, the City aims to strike a balance between long-term financial security, programs
  and services, and employee compensation.

• Budget reductions shall be evaluated on a case-by-case basis in a manner that is consistent
  with the City’s policies and priorities. Departments will prioritize their services and propose
  reductions in areas that are less effective in achieving Council and Department goals and
  associated outcomes. Departments should also consider the potential effects to interrelated
  programs when evaluating potential reductions.

• Requests for budget augmentations should include a clear description of targeted outcomes in
  as measurable terms as possible. 

• When requesting the addition of new programs, services, or resources, non-General
  Funds should be pursued first, offsetting fee revenue second (if applicable), and the General
  Fund last.

• The Pension Resources, which are comprised of the Pension Reserve and the Section 115
  Pension Trust, may be utilized to offset pension costs during fiscal years in which a structural
  deficit is present to ensure the continuation of existing service levels, and not to increase
  services. The trust should not be used to offset pension during years in which there is a
  structural surplus. When budgeted as a funding source, the amount withdrawn from the
  Pension Resources will be determined at year-end based on actual revenues compared to
  actual expenditures in the General Fund. Only the amount budgeted, or the actual amount
  needed to close the gap, whichever is less, would be withdrawn from the Pension Resources. 

• Fund Descriptions (Non-General Fund)

• Primer on California City Revenues

• Glossary of Financial Management Terms