Article IV, Section 4.02, of the City Charter requires that the City Council receive a budget covering the next fiscal year prior to August 10 of each year. As part of the budget submittal, a list of capital projects which should be undertaken within the next five succeeding years is required and is submitted as a separate document, the Proposed 2017-2021 Capital Improvement Program (CIP).

Both the budget and the CIP are submitted as "proposed" since adjustments may be made after the City receives the final certified property valuations from the Collin Central Appraisal District and after the Planning Commission review and recommendation of the CIP in August.

Additionally, changes to the proposed budget and CIP may be made pursuant to the direction of the City Council.

Staff recommends that the City Council receive and review the Proposed 2016-2017 City Budget and the Proposed 2017-2021 CIP. A budget discussion with the City Council and staff will occur in August. Public Hearings are planned for August 23, 2016, and September 6, 2016. The Proposed Fiscal Year 2016-2017 Budget and Proposed 2016-2020 CIP documents will be distributed at the August 9, 2016, City Council meeting.