Your Finance Department (FY 2015 Proposed Budget pages 73-81)

Transcription

1 Your Finance Department (FY 2015 Proposed Budget pages 73-81) 1

2 Your Finance Department The Department has the same proportion of budget allocation as staffing (4%) 2 FY 2015 Addition: Risk Analyst for predictive risk mitigation and safety coordination

3 Financial Services Current Estimate of Service Allocation Limited capacity to provide added value services 3

4 Financial Services Ideal Service Allocation 4 Other projects may change, but city-wide support demand will continue Possible to adapt without new costs

5 FINANCE- of Initiatives 5 Enhance Environmental Sustainability and Resources Reduce paper use through implementation of additional Eden Financial System modules and process enhancements (FY14) Expand training opportunities to reduce the quantity of reports by maximizing the functionality of current Eden applications and other supporting financial applications (internal staff training and develop regional user groups for shared systems) (FY14) Conduct a limited Telecommute pilot program that would reduce carbon emissions and traffic and parking impacts (FY14) Continue efforts towards paperless, external financial audits (FY14) Expand data access to reduce the need for reporting, with specific focus on timesheet entry and approval access (FY14) Evaluate options to incorporate within the Purchasing Ordinance more environmental sustainability & resource options (FY14) 75% 0% 10%

6 FINANCE- of Initiatives 6 Enhance Environmental Sustainability and Resources (cont.) Support and evaluate the development of a Solar Hot Water pilot program for small businesses (FY14) Evaluate options to create new, online customer service interfaces for the public, reducing the need to print forms or for customers to drive to City Hall (FY14) Develop a City Hall space efficiency study to reduce environmental impact of City Hall and surrounding offices (FY14) 40% Enhance Community Safety Provide support and analysis towards a UCSC and City of Santa Cruz Fire contract for services agreement (FY14) Assist with public safety grant reporting and submissions (FY14) 90% On going

7 FINANCE- of Initiatives 7 Enhance Community Safety (cont.) Ensure resources are available to adequately staff police and fire operations (FY14) Develop a predictive preventative risk management program (FY15) new Promote Economic Vitality and Retain and Attract Businesses and Jobs Assist with the development of the Code for America project to simplify business licensing processes (FY14) Evaluate promotional opportunities for licensed businesses in alignment with shop local campaigns (FY14) Evaluate opportunities to simplify and enhance business licensing processes (FY15) new

8 FINANCE- of Initiatives 8 Maintain Fiscal Stability and Sustainability Adopt a balanced FY 2014 General Fund budget that minimizes reserve dependency and provides for longer term stability (FY14) Adopt a balanced FY 2015 Budget that accurately forecasts total required operating and maintenance costs to minimize the risk of future equipment, facility and infrastructure failures and the risk of sudden and unexpected cash outflows. (FY15) Adopt City General Fund reserve policy to provide long term, fiscal stability and improve the City s bond rating (FY14) Complete a comprehensive cost recovery study to quantify value of subsidized programs and initiatives (FY14) Implement results of the comprehensive cost recovery and fee study to quantify value of subsidized programs and initiatives (FY15) 90% 80% 0%

9 FINANCE- of Initiatives 9 Maintain Fiscal Stability and Sustainability (cont.) Adopt City General Fund surplus policy to provide for funding stream for operations, facilities and infrastructure needs, that will help improve the City s bond rating Adopt City policies for internal loans and risk mitigation to help improve the City s bond rating and mitigate the impact of sudden and unexpected severe cash outflows. Complete renewal and implementation of employee bargaining unit contracts for all unions and bargaining units (FY14) Maintain or improve the City s bond rating (FY14) Conduct internal audits to verify incoming tax revenues (FY14) Conduct operational reviews to utilize existing staffing levels to accommodate growing service demands (FY14) 20% 0% 95%

10 FINANCE- of Initiatives 10 Maintain Fiscal Stability and Sustainability (cont.) Evaluate opportunities to refinance existing debt at lower interest rates (FY14) Evaluate opportunity to lower the City s annual employee pension payments through an early, one-year, prepayment plan with CalPERS (FY14) Evaluate opportunity to lower the City s annual employee pension payments through an early, one-year, prepayment plan with CalPERS (FY15) Evaluate options to reduce annual licensing costs for system applications within Finance (FY14) Develop proactive programs and training to reduce the likelihood of new general liability or worker s compensation claims (FY14) 80%

11 FINANCE- of Initiatives 11 Maintain Fiscal Stability and Sustainability (cont.) Support recovery of resources used to reopen Depot Field through closure of the City s law suit and/or insurance proceeds (FY15) Evaluate the need for Capital debt to fund significant infrastructure improvements in the Water fund to enhance water supply and mitigate impacts of the drought on our community (FY15) Study for possible development public transparency reporting options (FY15) 50% 10% 25% Enhance the monthly financial reports (FY15) 0% Receive the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States (FY14) Receive the Distinguished Budget Presentation Award from the Government Finance Officers Association of the United States (FY15) 0%

12 FINANCE- of Initiatives 12 Improve and Maintain the Infrastructure Provide support and analysis to evaluate bond issues to fund road and infrastructure improvements (FY14) Provide support and analysis to complete a DeLaveaga land exchange with the State (FY14) Provide support and analysis towards the Library JPA s consideration of a bond issuance to fund system-wide facility improvements (FY14) For the Library JPA, if approved by the voters, complete the issuance of bonds to fund Board Approved system-wide facility improvements and expansions (FY15) Analyze opportunities to leverage existing or external resources to fund infrastructure and facility improvements (FY14) 0% Complete issuance of road and infrastructure bonds (FY15) 90%

13 Long Term Financial Focus Fiscal Policy Development 13 Now: Economic Development, Surplus, Debt and Interfund Loans, Energy Efficiency Projects Soon: Infrastructure index monitoring, fee structure Realign Service Delivery to prioritize core support services 44 Large planned projects with 64% completed or active; 36% on Primarily focused to provide excellent support Provide timely, engaging and useful financial reporting Find more opportunities to create the region s top Finance Department