Finance Committee Agenda and Packet 2023 10 19

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City Council Finance Committee Meeting Minutes September 21, 2023 Page 3 of 5 that could be provided to the community, such as EV status of the community, economic trends, etc. to frame the problems we are trying to solve and identify those we really have. Councilmember Dickinson agreed that providing this type of information to the community would be helpful. 2024 Budget Discussion: The Director of Finance presented the current status of the 2024 Budget to the committee. All materials can be found on the City's website. The Director of Finance reviewed the draft budget from the September 12 meeting and described the changes implemented since that meeting. The details of this information will be presented at the next Council meeting. The Director of Finance highlighted budgeted inter -fund transfers and the reserve policy for the committee. Questions from the Committee: Councilmember Hoefner noted that the recently provided budget worksheet is very helpful. He asked that the discussion this morning center on how we get from where we are to a balanced budget Council can approve and asked for input on what we can do to get there. Councilmember Dickinson agreed that the Finance Committee is a good place to have budget discussions. He also noted that, while there are many Councilmembers on this call, he is hesitant to discuss this topic in detail at this time since this topic will be fully discussed at the September 26 Council meeting. The City Manager noted that staff are prepared to discuss this topic and asked the Director of Finance to provide a summary of how we're considering getting there. Councilmember Dickinson asked for a drilldown into what expenses now will result in cost savings later. Councilmember Hoefner expressed concern about removing office space improvements from the budget and adding staff members when space is already limited. The City Manager noted that most of the staff positions included in the increase were added earlier this year and most of these staff members are already in place. City staff are looking at hybrid options and being more creative and cost effective with certain spaces to add workspaces for staff in the present footprint. Councilmember Hoefner noted the increase in the CMO staff budget since 2021 and expressed concern that we might be adding positions that might not be sustainable. The Director of Finance responded that some of the staff expenses are covered by grant funding. Councilmember Hoefner asked what will happen with those positions when the grant funding runs out. The City Manager noted that some of these positions are in support of strategic initiatives requested by Council. Councilmember Hamlington noted that she will continue to hold to the belief that a hybrid model would be useful and would be willing to have a conversation on what the investment would be to hire a consultant to think creatively about solutions. She added that people are needed to achieve the goals we have for 5/47