Title
Long-term Budget Sustainability Discussion
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Hold a discussion on long-term budget sustainability.
Report
Issue:
Whether to hold a discussion on long-term budget sustainability.
Staff Contact:
Aaron BeMiller, Finance Director, 360.753.8465
Presenter(s):
Jay Burney, City Manager
Background and Analysis:
The City is beginning an effort of looking at our financial standing with a goal of establishing a long-term sustainable budget. Like most local governments, expenses increase annually at a rate that exceeds increases in resources, especially in the General Fund.
The Finance Committee added a monthly agenda item to discuss planned actions toward achieving this goal to its 2024 Workplan. The February discussion will focus on the City Manager providing the Committee with his plan of action for 2024 toward achieving this goal.
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 associated with this agenda item.
Options:
1. Discuss long-term budget sustainability.
2. Do discuss long-term budget sustainability.
3. Reschedule the discussion to another meeting.
Attachments:
None