Let's Get Down to The Real Nitty-Gritty > City's Annual Financial Forecast / O Yeah

Here's some good stuff to keep your eyes on and keep your eyes - and ears -wide open: The typical Power Point presentation used for the City Annual's Financial Forecast in Item 3-a somehow manages to slide under the radar screen year-after-year: due to the fact that all the figures are not easy-to-understand by your average citizen.

For another matter, people who live here in Mesa are getting slightly more involved to tune-in to what your government is doing > YOU, dear readers are actively encouraged to engage more ...so let's get right down to the real nitty-gritty
Simple because it deserves more of your attention
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^ Here's a little intermezzo to get you in the mood - and perseverance - to watch 62 minutes they try to make boring on purpose
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Last Thursday was the morning study session about an hour in length with some changes discussed at the beginning by City Manager Chris Brady.
Here's the streaming vide uploaded from YouTube - it's about an hour. Before hitting the play button please take the time to read the study session's agenda
The streamed presentation is a a.PDF 17 pages
Financial Forecast General Governmental Funds 
Presented by:
Candace Cannistraro, Management and Budget Director
Brian Ritschel, Management and Budget Deputy Director

 



Next Steps –Anticipated Calendar
10
April 2 Review Proposed FY 18/19 Budget
April 5 Review Enterprise Fund, Utility CIP and UtilityRates Hear from Utility departments April 12 Review Non-Utility Capital Improvement Program (CIP)
Hear from various departments April 16, 19, 26 May 3
Hear from various departments
Budget Wrap-up May 21
Adoption of the CIP and Utility Rates Tentative
Adoption of the FY 18/19 Budget
June 4 Final Adoption of the FY 18/19 Budget
June18 Adoption of the SecondaryProperty Tax Levy
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Meeting Name:

City Council Study Session

Agenda status:

Final

Meeting date/time:

3/1/2018 7:30 AM

Minutes status:

Draft

Meeting location:

Council Chambers - Lower Level

Published agenda:

Agenda

Published minutes:

Not available

Meeting video:

Video

Attachments:

• Meeting Items (2)

2 records Group Clear sorting Clear grouping Group by Type Group by Result Export Export to Excel Export to PDF Export to Word Show: Legislation only Legislation only All agenda items

File # Agenda # Type Title Action Result Action Details 18-0265 2 Presentation Information pertaining to the current Job Order Contracting projects.     Not available 18-0238 3-a Presentation Hear a presentation and discuss the City's financial forecast on the General Governmental Funds.     Not available

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File #:

18-0265

Type:

Presentation

Status:

Agenda Ready

In control:

City Council Study Session

On agenda:

3/1/2018

Title:

Information pertaining to the current Job Order Contracting projects.

Attachments:

1. Project List, 2. Project Map, 3. Sub Participation Cumulative

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File #:

18-0238

Type:

Presentation

Status:

Agenda Ready

In control:

City Council Study Session

On agenda:

3/1/2018

Title:

Hear a presentation and discuss the City's financial forecast on the General Governmental Funds.

Attachments:

1. Presentation

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Revenue Forecasting • The city subscribes to a forecast group out of the University of Arizona which allows for access to raw data regarding econometrics • Statistical software is applied in house to analyze the correlation between economic trends and the city’s revenue sources • Relevant economic indicators are considered such as: population growth, wages, unemployment, building permits, gas prices, etc. • Mesa specific factors are applied such as economic development activities, retail trends, etc. • Includes an economic correction estimate
Included in Expenditure Forecast • Public Safety Retirement contributions (25-year unfunded liability payment plan) • Police contribution rate essentially unchanged (50%) • Fire contribution rate increase to 52% (from 48% in FY17/18) • Investment earnings assumption reduced from 7.5% to 7.4% • Arizona State Retirement • Contribution rate increase to 11.8% (from 11.5% in FY17/18) • Investment earnings assumption reduced from 8.0% to 7.5% (impact to rates phased in over five years) • Medical premiums increasing 4% in CY 2018 and 8% in later years
Expenditure Forecast –Transfer to Other Funds • Arts & Culture • The Arts and Culture Department operates facilities that charge for services provided: admission/tickets to shows. Expenditures are offset by these charges however the revenues do not cover the costs • The General Fund contribution is projected at $9.8M in FY 17/18 and $9.5M in FY 18/19 • Transit –Bus, Light Rail, Dial-a-ride • The city receives transit revenues from the State and a portion of the fares for light rail ridership however the revenues do not cover the costs • The General Fund contribution is projected at $11.0M for FY 17/18 and $13.8M in FY 18/19 • Gilbert Light Rail Extension is included in FY 19/20 forecast.  $4.0M annual estimated increase in expenses and $1.8M anticipated increase in revenues.

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