TITLE
Staff report to the City Council Finance Committee summarizing the analysis and research conducted by an ad hoc internal committee of City managers, otherwise known as the Cost and Revenue Efficiency (CARE) Team
SUMMARY AND RECOMMENDATIONS
Staff submits the below summary of its analysis to the City Council Finance Committee for its review and consideration.
BACKGROUND AND ANALYSIS
In order to help address the structural budget issues facing the City in advance of the FY 2019-20 and 2020-21 biennial budget process, in May 2018, the City Manager created an ad hoc committee charged with exploring potential long-term cost savings options and revenue opportunities. This Committee was made up of a staff team that included management staff from each of the City's departments. Over the course of approximately six months, the team researched and discussed a variety of potential budget savings and revenue scenarios that touched on nearly all facets of City operations. Each scenario was vetted independently to analyze the potential impact, and later prioritized for implementation based on feasibility. Several of the ideas that were generated by the committee have already been incorporated into the budget process that is now underway. The team's efforts were carried out in tandem with the long term financial forecast model that was developed in collaboration with Management Partners, and which was presented for City Council discussion at the January 28, 2019 City Council work session and February 2, 2019 City Council Retreat.
The team's initial meetings were focused on an in-depth exploration of the City's budget and financial operations so as to deepen knowledge across all departments. The initial meetings also included focused research assignments on the city's major sources of revenue, as well as research into other public agencies' budgets. Later meetings included brainstorming and in-depth exploration of potential cost reduction and revenue generation scenar...
Click here for full text