COUNCIL LATE AGENDA ITEMS
Council Meeting
March 11, 2025
March 11, 2025
City Council Meeting
Information presented
at Council meeting
ௗௗௗௗ
Project Kick-OffFacilitate productive discussions to gather insights and address concerns.Status MeetingIdentify revenue opportunities and cost-saving strategies.Compile insights into a clear and actionable reportStatus MeetingStatus MeetingStatus MeetingStatus MeetingClosure MeetingAnalyzing variances, trends, and identifying key shortfalls and overruns.Determine best course of action based on opportunities and formulate plan.Develop and implement a strategic communication planStatus Meeting
FINANCIAL MANAGEMENT
POLICIES (FMPS)
2. Enhance Economic Development
and Achieve Fiscal Sustainability
2025-2030
STRATEGIC
PLAN
Goal 2: Enhance Economic Development and Achieve
Fiscal Sustainability
PITCH DECK 2
Create a fiscal sustainability plan
Promotes fiscal responsibility,
sustainability, and best practices
Create guidelines for budget development
and ongoing fiscal monitoring
3 FINANCIAL MANAGEMENT POLICIES
Budget
Policy
Fund
Balance
ReservesBudget
Control
Accounting
Methodology
GENERAL FUND
4 BUDGET POLICY
Adopt a Structurally Balanced Budget before the start of the Fiscal Year Commit to balance the operating budget utilizing the following temporary measure(s):
Freeze vacant positions
Suspend overnight training
Suspend non-critical purchases
Only borrow from available fund balances and reserves for unplanned/unforeseen events
A financial model should be presented as part of the annual budget process Commit to allocating operating surpluses to:
Replenish reserves
Pay down long-term debts
Fund one-time expenses
CAPITAL PROJECTS FUND
5 BUDGET POLICY
Budget for the Five-Year Capital Improvement Plan (CIP) is adopted annually If needed, review and update annually
Disclose future operating/maintenance costs associated with new capital projects
Maintain an inventory of the City’s physical assets, condition, and remaining useful life.
Maintain all assets at a sufficient level to protect the City’s capital investment 6 FUND BALANCE
Government Accounting Standard Board Statement No. 54 (GASB 54) Governs the Reporting of Fund Balance
Five components of Fund Balance:
1. Non-spendable – Inventory and prepaid expenses
2. Restricted – Local, state, and federal grants
3. Assigned – Catastrophic Reserve
4. Committed – Purchase orders and contracts/agreements
5. Unassigned – Fund balance available to spend
7 RESERVE POLICIES
Changes
Propose
Reserve
FY25 Reserve
BalanceFund
$13,120,861$39,050,183$25,929,321General Fund
$4,570,000$7,550,000$2,980,000Capital Projects Fund
-$2,067,030$390,625$2,457,655Computer Replacement Fund
-$2,046,275$1,035,500$3,081,775Vehicle Replacement Fund $182,319$876,603$694,284General Liability Fund
-$201,322$4,392,977$4,594,299Workers’ Compensation Fund $4,972,044$4,972,044NoneEmployee Accrued Liabilities Fund -$12,411,468None$12,411,468Discretionary Reserve
$6,119,129$58,267,932$52,148,802Total Governmental Funds No ChangesNo changes
Sewer: $1,372,007
Water: $10,046,522Enterprise Funds
No Changes$11,418,529$11,418,529Total Enterprise Funds
DISCRETIONARY RESERVE
8 RESERVE POLICIES
Discretionary
Reserve
$46,860,219
Capital Projects
Fund $2,980,000
Computer
Replacement
Fund $2,457,655
Vehicle
Replacement
Fund $3,081,775
Additional
Reserve
$12,411,468
General Fund
$25,929,321
Increase in the
General Fund
reserve
$13,120,861
FY26 General Fund
Expenditure
$156,200,731
9 RESERVE POLICIES
Excess/
Shortfall
Proposed
Reserve
FY24 Fund
BalanceFund
-$10,592,625$39,050,183$28,457,558General Fund
$5,773,510$7,550,000$13,323,510Capital Projects Fund
$8,203,068$390,625$8,593,693Computer Replacement Fund
$3,885,825$1,035,500$4,921,325Vehicle Replacement Fund
-$1,567,741$876,603-$691,138General Liability Fund
-$12,296,534$4,392,977-$7,903,557Workers’ Compensation Fund $2,411,442$4,972,044$7,383,486
Employee Accrued Liabilities
Fund
Sewer: $3,414,455
Water: $527,419
Sewer: $1,372,007
Water: $10,046,522
Sewer: $4,786,462
Water: $10,573,940Enterprise Funds
10 BUDGET CONTROL
Budget status report and estimated fund balances at least once during the fiscal year
Budget revisions are approved as follows:
The City Manager and/or designee may approve transfers from the same fund to meet operation needs
Transfers between fund and projects must be approved by the City Council Expenditure must be within the appropriation limit
Non-personnel expenditure must follow the City’s Municipal Code Changes to full-time equivalent positions must be approved by the City Council All purchase order carryovers and continuing appropriations must be approved by the City Council
11 NEXT STEPS
Share with
Investment
and Audit
Committee
Finalize the
FMPs
Return to
City
Council for
adoption
12 Questions
Economic
Development
Update
March 11, 2025
Fiscal Year 2024-25
Implementation Plan
Infrastructure Financing
West Katella District
Economic Development Forum
Economic Development Roundtable
Fiscal Year 2024-25 Implementation Plan
Experience Orange
Marketing Plan
Promotional Items
Old Towne Parking and Microtransit
Tourism/Hotel Development
Film Ordinance Update
Fiscal Year 2024-25
Implementation Plan
Questions