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City Council Goal #1
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GOAL #1: FINANCIAL SUSTAINABILITY
Achieve financial sustainability through the transformation of the city’s budget process, financial analysis and metrics, and resource allocation with a focus on educating, including, and engaging residents and businesses as partners in the process.
Objective #1 – Improve and streamline City’s budget process.
Actions | Timeline | Responsible Party | Measurements |
Identify funding for financial software purchase. | 1st Quarter 2022 | City Manager/Finance Director | Funding source identified and funding allocated by City Council |
Investigate financial software options and purchase updated software by year-end. | 1st Quarter/2nd Quarter 2022; software purchased by 4th Quarter 2022 | Finance Director/Information Technology/City Council | Report with recommendations made to City Council; City Council acts on recommendations; |
Investigate alternative budget processes that can be implemented for cost savings and to simplify departmental budgeting. | 2nd Quarter 2022 | City Manager/Finance Director | Recommendations made to City Council; City Council makes selection and approves |
Investigate the feasibility of establishing a finance committee that includes Council, community and staff governed by OMA (Open Meetings Act) guidelines. | 3rd Quarter 2022 | City Manager/Finance Director | Recommendation regarding the feasibility of establishing a finance committee made to City Council; City Council takes action on recommendation |
Use software to provide updated financial reports for internal and external use. | 4th Quarter 2022 through 2023 | Finance Director/Information Technology/City Council | Financial reports generated on quarterly basis |
Objective #2 – Conduct review of all city services to identify streamlining opportunities.
Actions | Timeline | Responsible Party | Measurements |
Identify the most relevant budget metrics for every service/program. | 2nd Quarter 2022 | City Manager/ | Metrics identified, completed, and presented to City Council before budget season |
Identify possible cost-sharing, collaborative opportunities with neighboring cities. | 2nd Quarter 2022 | City Manager/ | Potential cost-saving collaborations or partnerships with neighboring cities/taxing jurisdictions identified; report made to City Council; City Council takes action |
Study the potential for expanding public/private partnerships to support traditional city services. | 2nd Quarter 2022 | City Manager/ | Potential partnerships identified; report made to City Council; City Council takes action |
Objective #3 – Maintain and enhance the City's bond rating
Actions | Timeline | Responsible Party | Measurements |
Review weaknesses listed in S & P Global Rating Agency Report; make implementation recommendations. | 1st Quarter 2022 | City Manager/Finance Director | Recommendations made to City Council; City Council select recommendations to proceed with; Recommendations implemented |
Objective #4 – Expand and strengthen tax base and increase city revenues.
Actions | Timeline | Responsible Party | Measurements |
Determine allocations for ARPA funding to support city services. | 1st Quarter 2022 | ARPA Manager | Project allocation report submitted to City Council |
Investigate alternative funding sources for city services. | Begin 1st Quarter 2022; ongoing review | City Manager/Finance Director | Report released on quarterly basis. |
Conduct a public/private comparison of service fees that the city imposes. | 2nd Quarter 2022 | City Manager/ | Summary document of service fees comparison completed |
Sell-off underperforming city assets. | Ongoing | Planning & Redevelopment Division | # of properties sold annually; total revenue from sales |
Re-evaluate lease prices for city owned farmland, assets, and infrastructure to determine if current market rates are being used in contracts. | 2nd Quarter 2022 | Planning & Redevelopment Division | Recommendation for new lease rates made for new contract periods |
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The Mayor's Office
1528 Third Avenue
Rock Island, IL 61201Phone: 309-732-2012
Fax: 309-732-2055Hours
Monday - Friday
8 a.m. - 5 p.m.