1997 AGN JUN 17 I21 - Laserfiche WebLink

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MEMORANDUM Office of the Mayor and Council CITY COUNCIL MEETING OF JUNE 17, 1997 Date: June 11, 1997 From: Councilmember Donald Sanders Subject: Formation of Blue Ribbon Committee, Solid Waste Mangement Committee, and a Budget and Finance Committee Page: 3 of 3 .................................................................. ................................................................... Budget and Finance Management Committee: The primary goal .... of the Bu..d.get . .. and . . .. Finance ............. Management Committee is to make recommendations to the City Council allowing for efficient and effective decision-making on critical financial matters. Mission Statement: Provide recommendations to City Council on existing and future budgeting and financing practices. Goals and Objectives: 1. Create a public and private partnership. a 2 year Budget Process The creation of combined operating and capital budgets focused on short term forecasting has impeded rather than facilitated longer-term planning. The Council's emphasis on accurate budgets should focus on two year vs. the current format of single - year authorization. This can be achieved by adopting the first year's budget and approving in principle the second year's budget. The rolling two year budget provides Council and Administration with a measure of long-term confidence in the City's fiscal management. 2. Examine debt finance for potential candidates for bond re -finance. 3. Examine and recommend policies and procedures RECOMMENDATION Recommend the Budget and Finance Management Committee consist of five (5) members with Councilmember Kelly Chastain serving on this Committee and the remaining consisting of community leaders and business persons. Agenda Item No.