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�ti��� � <br />��� <br />1�'� err�c� <br />To: Mayor and Council <br />Neal Beets, City Manager <br />From: Chris Miller, Duane Schvvariz, a�ad Lonnie Brokke <br />Date: May 15,2006 <br />Re: Discussion on Budget-RelatedCity Goals <br />Date: OS/15/06 <br />Item: 3.b <br />City Council Goal 1 <br />Budget-Related City Goals <br />Introduction <br />At the Apri122,2006 Goal-setting meeting, the Council and Staff identified nine (9) goals for the <br />next year (200612007). The top goal or priority as stated at the meeting was: <br />Budget control and strategic fiscal planning, sustainability of progranzs, <br />streamlining of budget process, policy on �eserves <br />In an effort to further define this goal and to identify potential objectives or action steps that may <br />be needed to achieve it, the following information is submitted <br />De�ning the Goal <br />Each of the areas identified above are somewhat intertwined with the budget process, yet they do <br />have a distinct role separate from each other. The Council may want to consider a revised goal <br />statement(s) that identifies the important contribution that each component makes to ensure a <br />strong fmancial condition, and gives the Council the necessary policy review. <br />One suggested revision could read as: <br />Establish a long-term financial plan that provides for the sustainability of City <br />programs, services, and infrastructure while muintaining the City's strong <br />financial condition, and which provides for the necessary budgeting controls <br />under a streamlined budgeting process. <br />With this goal statement the following can occur: <br />1) Budget decisions will be made in consideration of the City's long-term interests <br />2) The City will avoid decisions that result in short-term gains at the expense of long-term <br />losses <br />3) The City will commit to the necessary funding mechanisms to replace City assets at the <br />end of their useful lives <br />4) The City will commit to a competitive compensation and benefit package to attract ai�d <br />retain quality employees <br />5) Cash reserve and other budget-related policies will be reviewed and adopted <br />6) The budgeting process and budget-related information needs will be identified prior to <br />formulating any budgets <br />