Budget & Financial Plan

budget

Every year the City Council adopts a Budget and Financial Plan for the next fiscal year. The City’s fiscal year runs from July 1st of one year through June 30th of the next year. The budget is the City’s business and financial plan for the year.

Purpose of the Budget:

  1. To set goals objectives, and service levels for the City to meet during the next year (thus insuring the provision of City services to Milpitas residents).
  2. To estimate and allocate the money the City will take in and spend during the year.

FY 2021-22 Budget Development:

On November 17, staff kicked off the FY 2021-22 Budget development process with the presentation of the Initial Preliminary FY 2022-21 Ten-Year General Fund Financial Forecast (Forecast) and the FY 2021-22 Budget Calendar. The Forecast will be updated for the City Council Preliminary FY 2021-22 Budget Study Session scheduled for January 26, 2021. At this Study Session the City Council will be discussing budget priorities for FY 2021-22. In January 2021, staff will also start the community engagement process

Budget Transparency:

With the release of the FY 2020-21 Adopted Budget document approved by the City Council on June 2nd, 2020, the City launched its Budget Transparency Tool and published the FY 2020-21 Budget-in-Brief document.

The Budget Transparency Tool provides residents and businesses with many views of the City’s FY 2020-21 Adopted Budget and prior year budget and actual revenue and expenditure data. The City encourages viewers to explore trends in revenues and expenditures over time; drill down into expenses by fund, department, or account type; display the data as graphs or charts; download data into Excel; and send comments directly to the City online.

The 12-page Budget-in-Brief document highlights major investments being made in the City of Milpitas for this fiscal year and provides facts about the City. It presents the major sources of funding and the services provided by the City, including the infrastructure it constructs and maintains. For questions and comments regarding the City’s budget, please email us at budget@ci.milpitas.ca.gov.

Plans:

Below are the current and most recent Budget and Financial Plan documents available for review and download. For the annual capital improvement programs please follow this link.

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