Title
Cost Allocations Briefing
Recommended Action
Committee Recommendation:
Discussion only. No action requested.
City Manager Recommendation:
Receive a briefing on the various City cost allocations/rates.
Report
Issue:
Whether to receive a briefing on the various city cost allocations/rates.
Staff Contact:
Aaron BeMiller, Finance Director, 360.753.8465
Presenter(s):
Joan Lutz, Budget and Financial Manager
Background and Analysis:
The city has several allocations to ensure that all departments and/or funds of the city pay their fair share for services. These city-wide cost allocations include items such as the indirect cost allocation, IT replacement, fleet costs, engineering costs, and rent. As the Committee set their 2024 workplan, there was a request for the finance team to provide a little context on these different cost allocations, what factors are used to calculate the costs, and the impact of the cost allocations on the General Fund. Cost allocations are updated annually as part of the budget process and reviewed to ensure we continue to use the most appropriate allocation metrics.
Climate Analysis:
This agenda item is expected to result in no impact to greenhouse gas emissions.
Equity Analysis:
One of the goals of the City’s budget process is to ensure that city services are provided equitably to our residents and business communities, as well as the greater Olympia community. This agenda item is not expected to further impact known disparities in our community.
Neighborhood/Community Interests (if known):
Members of the community may have an interest in this agenda item as it deals with City finances and fiscal governance.
Financial Impact:
There is no financial impact resulting from this discussion.
Options:
1. Receive the presentation on city-wide cost allocations.
2. Do not receive the presentation on city-wide cost allocations.
3. Reschedule the presentation to a future meeting.
Attachments:
None