ORGANIZATION: Westside Development Corporation (WDC) - Finance Committee
POSTING LANGUAGE:
Discussion and possible action on a recommendation to the Board of Directors regarding the draft organizational budget for fiscal year 2016.
SUMMARY:
WDC staff has been preparing a draft budget for fiscal year 2016, which began October 1, 2015. The Finance Committee will review the budget, make recommendations and/or adjustments before submitting to the Board of Directors for final approval.
BACKGROUND INFORMATION:
General
The WDC’s fiscal year is October 1 through September 30. Each year, staff prepares a budget based on the current year’s performance and proposed activity for the future year.
Staff first presented the draft budget for fiscal year 2016 to the Finance Committee on August 12 and to the Executive Committee on August 19. Based on the feedback and direction from those committees, the draft budget has been revised and is presented to the Finance Committee for further review.
The budget is scheduled to be considered by the Board for final approval on October 28, 2015.
FISCAL IMPACT:
RECOMMENDATION:
Staff recommends the WDC Finance Committee review the budget, make recommendations then refer to WDC Board for approval.
MRH - 151014 - Finance - Item 3 Memo