Finance Committee Agenda and Packet 2022 08 22

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city°f FINANCE COMMITTEE Louisville COMMUNICATION COLORADO • SINCE 1878 SUBJECT: ANNUAL PERFORMANCE MEASURES UPDATE DATE: AUGUST 22, 2022 PRESENTED BY: EMILY HOGAN, ASSISTANT CITY MANAGER MEGAN DAVIS, DEPUTY CITY MANAGER KEVIN WATSON, DIRECTOR OF FINANCE SUMMARY: Staff is providing the annual performance measures update, which includes the City's Community Indicators and Key Performance Indicators (KPIs). The City adopted its firsl program -based budget in 2016. The budget was organized into 10 program areas and 38 sub -programs. To measure the City's progress in achieving the goals and objectives of the programs and sub -programs, the City adopted KPIs for each sub -program. In 2020, the City refined the performance measures to ensure that the Community Indicators and KPIs meets best practices for performance measures, is collected by similar communities, supports the City's Strategic Plan and is useful for City staff and Council in decision -making. The KPIs include workload measures that show the quantity or volume of products, services or efforts involved; efficiency measures that demonstrate the resources used to accomplish an outcome, level of productivity or cost per unit; and effectiveness measures that indicate how well a sub -program is accomplishing the goals and objectives of each program and sub -program. Each effectiveness measure has a target listed. In addition to the KPIs, staff provides updated information for the Community Indicators. These measures evaluate the City's progress in meeting the goals of the Strategic Plan and Critical Success Factors, which the City must achieve to accomplish the organization's vision of being `dedicated to providing a vibrant, healthy community with the best small town atmosphere'. The Community Indicators focus on community outcomes and may or may not be in the City's direct control. However, they do show progress made in certain areas and changes experienced by those who live, work and visit Louisville. ATTACHMENT(S): 1. 2022 Community Indicators & Key Performance Indicators FINANCE COMMITTEE COMMUNICATION 11