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HomeMy WebLinkAbout12/07/2021 Staff: Christian Clegg Committee Members: City Manager Councilmember, Andrae Gonzales – Chair Councilmember, Ken Weir Councilmember, Eric Arias SPECIAL MEETING OF THE BUDGET AND FINANCE COMMITTEE of the City Council - City of Bakersfield Tuesday, December 7, 2021 12:00 p.m. City Hall South 1501 Truxtun Avenue, Bakersfield, CA 93301 First Floor, Caucus Room AGENDA SUMMARY REPORT The meeting was called to order at 12:01 p.m. 1. ROLL CALL Committee members present: Councilmember Andrae Gonzales Councilmember Ken Weir Committee member absent: Councilmember Eric Arias Staff present: Christian Clegg, City Manager Anthony Valdez, Assistant to the City Manager Brianna Carrier, Assistant to the City Manager Crystal Rubio, Administrative Analyst III Juan Heredia, Administrative Analyst III Joshua Rudnick, Deputy City Attorney Randy McKeegan, Finance Director Additional Attendees: Members of the Public 2. ADOPT FEBRUARY 23, 2021 AGENDA SUMMARY REPORT The Reported was adopted as submitted. /s/ Christian Clegg AGENDA SUMMARY REPORT Budget and Finance Committee Meeting Tuesday, December 7, 2021, Agenda Page 2 3. PUBLIC STATEMENTS There were no public statements. 4. NEW BUSINESS A. Long Range Fiscal Model Project Update – Huot/McKeegan City Manager Clegg and Finance Director McKeegan provided an overview of the long-range fiscal model project and introduced Management Partners Special Advisor Bob Leland who provided a PowerPoint presentation on the Long-range Forecast and Fiscal Model planning tool to assist the city in forecasting major issues such as sales tax, fiscal capacity, recessions, and pensions. City Manager Clegg stated that the planning tool will be used to assess long-term impacts and provides the ability to strategically plan for the future. Finance Director McKeegan added that the planning tool will provide the capabilities to project market sensitivity changes in revenue performance and impacts associated with them 10 and 20 years into the future. Committee member Weir shared the trends and impacts he has witness in the past that impact the city’s outlook. He stated sales tax and pension costs see high revenue years that are then followed by very low revenue years. Mr. Leland responded that the fiscal structure tool uses the most recent figures of impacts to determine and review different scenarios. City Manager Clegg added that the planning tool provides Finance staff the capability to produce multiple projection scenarios with a single data set at one time. Committee Chair Gonzales inquired about the assumptions used to forecast the scenarios of sales tax revenue and Public Safety and Vital Services (PSVS). Mr. Leland referred to the 10-year forecast summary discussed during the presentation. Committee Chair Gonzales inquired about how the planning tool will be used to demonstrate the budgeting capacity of PSVS funding for staffing and projects. City Manager Clegg stated the forecast model tool will be referred to extensively during the mid-year and budgeting process. Committee Chair Gonzales thanked Mr. Leland of Management Partners and staff for the informative presentation. Committee member Weir made a motion to receive and file the report. The motion was approved with Committee member Arias absent. AGENDA SUMMARY REPORT Budget and Finance Committee Meeting Tuesday, December 7, 2021, Agenda Page 2 5. COMMITTEE COMMENTS There were no comments made. 6. ADJOURNMENT The meeting was adjourned at 1:08 p.m.