HomeMy WebLinkAboutFS 2016-01-20 Item 2C - Discussion - 2016 Financial Reporting OptionsCity of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Ekberg
Finance & Safety Committee
FROM: Peggy McCarthy, Finance Director
DATE: January 13, 2016
SUBJECT: Financial Reporting to Council in 2016
ISSUE
Discuss the frequency, timing and report content for financial reporting to Council in 2016.
BACKGROUND
The 2015 -2016 Mid - biennium budget amendment included an additional $420,000 in 2015 and
$643,000 in 2016 for the Police Department and $680,000 in 2015 and $713,000 in 2016 for the
Fire Department to maintain existing service levels; largely for salary and benefit costs.
Discussion at the December 14, 2015 Council Committee of the Whole meeting included a
request by Council for more frequent and detailed financial reporting in 2016, especially with
regard to these two departments. It was suggested that the first report be presented no later than
February 28, 2016.
DISCUSSION
In response to this request and to ensure the Council and the public is apprised on a timely basis
of the financial results of the City, the following reporting schedule is proposed.
What - Budget to Actual Financial Report
When
Where
2015 Annual - General Fund preliminary
February 17
Finance & Safety Committee
2016 January - Fire & Police departments
February 17
Finance -& Safety Committee
2015 Annual - Citywide
May 2
Council — Regular meeting
2016 Quarter 1 - Fire & Police departments
May 3
Finance & Safety Committee
2016 Quarter 1 - Citywide
May 16
Council — Regular meeting
2016 Quarter 2'- Fire & Police departments
August 2
Finance & Safety Committee *`
2016 Quarter 2 - Citywide
August 22
Council — COW meeting
2016 Quarter 3 - Fire & Police departments
November 8
Finance & Safety Committee
2016 Quarter 3 - Citywide
November 21
Council — Regular meeting
** This meeting has traditionally been canceled because it coincides with Night Out Against Crime. Should the meeting
be cancelled again this year, the report will be placed in the Committee members' City Hall mailboxes; discussion can
ensue at the second Finance & Safety Committee meeting on August 23rd
RECOMMENDATION
Information only.
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