HomeMy WebLinkAboutFIN 2023-12-11 Item 1B - Update - Financial Sustainability CommitteeCity of Tukwila
Allan Ekberg, Mayor
INFORMATIONAL MEMORANDUM
TO: Finance & Governance Committee
FROM: Laurel Humphrey, Legislative Analyst
DATE: December 5, 2023
SUBJECT: Financial Sustainability Committee Update
ISSUE
Chair Kruller requested an update on the progress of the Financial Sustainability Committee.
BACKGROUND
In July 2023, the City contracted with Berk to complete a Financial Sustainability Plan
(including a partnership with FCS Group on a Utility Rate Study), to include the convening of a
community stakeholder committee to help inform the 2025-2026 budget. Background
materials regarding this effort including outlines of committee meeting are available at the
following links:
7/10/23 Contract for Comprehensive Financial Sustainability Plan
8/28/23 Financial Sustainability Committee Process
10/2/23 Presentation on Process and Product Framing
Key questions to be answered in this project include:
• How can the City best use its limited financial resources to meet the priorities of the
community?
• How should the City's programs and services be calibrated with the community
members' desires and willingness to pay?
• How can impacts to residents and businesses be most equitably balanced, including
consideration of the range of household wealth and business size present in Tukwila?
In October 2023, the City Council appointed community members to serve on the Committee.
The Committee meeting schedule is: 11/7/23, 12/6/23, 1/9/24, 2/7/24, 3/5/24, 4/3/24
The website for this effort is https://www.tukwilawa.gov/departments/mayors-office/key-
city-plans-and-projects/tukwila-financial-strategy-and-utility-rate-study/, which includes a
link to the agendas and meeting summaries in the Digital Records Center.
RECOMMENDATION
Discussion only.
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