SUPPORT THIS INDEPENDENT JOURNALISM
The article you’re about to read is from our reporters doing their important work — investigating, researching, and writing their stories. We want to provide informative and inspirational stories that connect you to the people, issues and opportunities within our community. Journalism requires lots of resources. Today, our business model has been interrupted by the pandemic; the vast majority of our advertisers’ businesses have been impacted. That’s why the DP Times is now turning to you for financial support. Learn more about our new Insider’s program here. Thank you.
By Kristina Pritchett
At a March 27 Financial Review Committee meeting, committee member Toni Nelson made a presentation that included recommendations she would like to see made to the Council regarding the city’s finances.
Those recommendations include to recognize the seriousness of a downward trend in total government fund balances and to take steps to replenish funds by creating annual surpluses; to gradually rebuild government funds and set aside specific reserves for priority projects; and to not draw down reserves unless a comprehensive study shows the city is over reserved.
Nelson also recommended the committee work with the Council to examine all of the aspects of the financial model, to adopt a zero budget approach for 2018, to have joint FRC and Council meetings for “maximum efficiency and transparency,” and to adopt monthly budgets and prepare monthly reports of actual results.
Chairman Brian Porter said Nelson’s presentation contained a lot of information and that he would like the committee to “digest” it so they can have “educated conversations” about it.
Acting City Manager Mike Killebrew said he would like to see the committee work with him on developing a long-term financial plan.
The committee did not vote on the recommendations but it was discussed for Nelson to meet with Killebrew to further discuss her presentation.