03-23-15 Fiscal Affairs Committee Meeting

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Prepare a timeline. Timelines were prepared for each of the objectives. Staff will be asked to review those timelines and recommend adjustments, one the action steps are better defined. The Council-identified goals are: Improve Infrastructure Preserve Heritage – to preserve the structure and amenities that make La Porte unique Ensure that all departments and facilities are ready for any disaster To encourage economic development/retail development To provide Superior Customer Service To revitalize blight/146 In addition to the six Council-identified goals, it was agreed that key areas of city government were not included in the goals identified by Council. Staff was tasked with discussing other areas where they would establish goals and objectives and bring them to Council for consideration and approval to include in the Strategic Plan. Several new goals were identified and are proposed for Council consideration: To provide and maintain superior public safety Continue to improve the quality of life through recreational amenities Create a Neighborhood Preservation Program Provide diverse and timely communications that promote and influence a positive public perception of La Porte One critical component to ensuring that the elements of the Strategic Plan are being implemented is to provide regular status reports to the City Council. Staff proposes quarterly written reports supplemented by oral reports or action items for implementation that may be necessary in-between written reports. In fiscal year 2014, City staff appointed key department directors to carry out the major components of the strategic plan. Staff developed a matrix that identifies target dates for completion of the components of the strategic plan. Relevant Financial Policy City Council voted to adopt GASB 54 which resulted in the passage of a resolution that measures net financial resources available to finance expenditures of future periods. Major Initiatives Public Works has identified major infrastructure improvements needed in the upcoming years, consequently, we anticipate issuing up to $10 million in certificates of obligation in fiscal year 2015. Draft 3/5/2015 Long Term Planning Long Term Planning Long Term Planning Given the current economy and the uncertainty of the next few years, the City's existing financial position Given the current economy and the uncertainty of the neGiven the current economy and the uncertainty of the neGiven the current economy and the uncertainty of the neGiven the current economy and the uncertainty of the next few years, the City's existing financial position xt few years, the City's existing financial position remains strong. The City has incorporated several strategies to decrease the expenses to the City over the next several years. Rising costs of personnel and the related benefits have been a challenge to the City; however, over the last few years, a healthy fund balance in the General Fund has allowed the City to weather these rising costs. v