Finance Committee Agenda and Packet 2019 05 17

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City Council Finance Committee Meeting Minutes 04/22/19 Page 6 of 8 Recreation Fund does not include the allocation from the General Fund transfer. Director Watson stated that he would add a quarterly allocation to the statements. Finance Committee Member Lipton stated that all the dashboards and financial statements represent financial reporting, but not financial management. Member Lipton stated the area of financial management is what needs improvement, and that Directors need increased expertise. Member Lipton asked City Manager Balser how the City can provide training and get Directors to the next level of centralized accounting. City Manager Balser stated that there is financial management by City Directors, but that staff needs to improve their communication of the decision -making processes that occur with City Council. Manager Balser also stated there is a high level of complexity in reporting which continues to evolve. IT Business Data Analyst Nat Ahrens stated that he is working to create tools for the Directors to utilize. Member Lipton stated that he would be happy to meet with Analyst Ahrens to discuss what is needed. City Manager Heather Balser stated that the challenges continue to be identifying City Council expectations, gathering trend data for reporting formats that continue to change, and determining if staff is measuring the right things. Manager Balser stated that there are always training opportunities but first there is knowing the expectations. Finance Committee Chairperson stated he would like to see another quarter of the financial statement in the existing format, and that whether bar charts are used or numbers, there will need to be analysis of the data that will lead to questions and clarifications. The reports and corresponding narrative can be located in the packet of the April 22, 2019 Finance Committee Meeting. BUDGET SCENARIOS & PROCESSES FOR 2021-2022 BIENNIAL BUDGET Finance Director Kevin Watson stated that Finance Committee requested to review possible scenarios or processes to be used in developing the 2021-2022 Biennial Budget. Finance Committee Chairperson Maloney asked to defer this item to the May or June meeting, but before the Budget Retreat to allow more time for discussion. Finance Committee Members and staff briefly discussed: Program budgeting and KPI's Zero -based budgeting 7