HomeMy WebLinkAbout#17 - Finance Committee Work PlanSTAFF REPORT
DATE: January 7, 2020
REGULAR
TO: Honorable Mayor and City Council FROM: Sue Iverson – Finance Director AGENDA ITEM: 2020 Finance Committee Work Plan
BACKGROUND:
Each year, staff and the Finance Committee prepare an annual work plan for financial related City initiatives and goals. The City Council historically reviews the work plan and provides comments as needed about tasks and priorities. The primary intent of the work plan is to help prioritize the initiatives and goals related to City financial matters over the course of 2020. In addition, this plan helps keep the Finance Committee informed about the internal planning related activities and projects that will be undertaken by the staff over the coming year. This is a working document that provides guidance to the Finance Committee and City Council yet has the flexibility to respond to priorities as they emerge. It will also help the Finance Committee and staff to gauge its progress at achieving some of its goals for the year. ISSUES BEFORE THE CITY COUNCIL:
1) Should the City Council approve the 2020 Finance Committee Work Plan? DISCUSSION: The Finance Committee discussed the attached work plan at its October meeting.
FISCAL IMPACT: Certain items on the work plan may require outside assistance and costs, such as the Utility Performa. As
items or projects materialize, staff will seek direction, as appropriate prior to utilizing such assistance. OPTIONS: 1) Accept the 2020 Finance Committee Work Plan. 2) Amend and then approve the 2020 Finance Committee Work Plan.
RECOMMENDATION: 1) Motion to approve the 2020 Finance Committee Work Plan. ATTACHMENTS: 1) 2020 Finance Committee Work Plan
2020 Finance Committee Plan of Work
Meeting Date Project/Task Priority
(1-5,
with 1
being
highest)
January
February
March
April
May Election of Officers
Utility Pro Forma (Long Range Plan) Update
4th Quarter Financials – 2019
1st Quarter Financials - 2020
2020 Bonding
Utility Rates for Apartment Buildings
June 2021-2025 CIP
Finalize Assumptions for General Fund Long Range Plan
2019 Audit
July 2021 General Fund and Utility Budgets
2nd Quarter Financials
August 2021 General Fund and Utility Budgets (if needed)
September
October
November 3rd Quarter Financials
2021 Fee Schedule
2021 Work Plan
December