Council Action Guide: Financial Strategy Study Committee

Launch Financial Strategy Committee

Completed

In the past two years City Council approved a Library Master Plan, Open Space and Mountain Parks Master Plan, Transportation Master Plan and Fire Master Plan and several more master plans are underway including Police, Parks and Recreation, and Facilities and Asset Management. These master plans identify significant unfunded needs related to taking care of our existing assets and providing essential services. Acknowledging there are limited resources that cannot meet all of the city’s needs – identified through master plans or other processes, the Financial Strategy Committee was formed to focus and identify strategies to enhance the city’s long-term financial sustainability and to advance racial equity through resource policies and allocations.

• Council committee kicked off in January 2020.
• Provided guidance through the 2020 Budget reduction and 2021 Budget development processes.

• Council Committee will continue to meet at least monthly throughout 2021.
• Discuss and provide guidance regarding financial strategies including:
  • 0.30% Capital Tax Renewal (Community, Culture and Safety Tax) – potential 2021 ballot issue
  • Library Districting – potential 2022 ballot issue
  • Next phase of integrating racial equity into resource decision making
• Master plan process – revisit three tiers (2022).
• Next phase of Budgeting for Resilience (2022).

• Potentially referring ballot issues.