Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Process topic
No spam. Unsubscribe anytime.
Redmond finance outlines plan for performance reporting, contingency scenarios and a May update to long‑range financial strategy
Summary
Finance Director Cochran outlined plans to develop performance reports tied to budget priorities, create contingency scenarios for economic downturns, and issue a May revision to the city’s long‑range financial strategy; staff requested council feedback by June 6 and said they will bring performance conversations to council through the year.
The City of Redmond’s finance director presented a multi‑part plan to improve budget transparency and align performance measurement with budget priorities, while advancing the city’s long‑range financial strategy.
Director Cochran told the Committee of the Whole on May 13 that staff will develop performance reports that connect budgeted priorities and measures to results so council can assess whether the city is achieving stated outcomes. Cochran said the effort will start with the city’s top budget priority and proceed through other priorities, aiming to have budget‑linked performance conversations for council by year‑end. She asked council members to review a May revision to the long‑range financial strategy in a SharePoint folder and to provide feedback by June 6.
Why it matters: Cochran said the city will also build contingency planning scenarios for potential economic downturns—an initial “down and dirty” response plan and later more refined programmatic options—so staff and council can be prepared to adjust services rather than only line items. She said the city recorded a record high ongoing sales tax for Q1 and that the REET report for April was near $1 million, but staff are building contingency plans regardless.
Process and next steps: Cochran described a timeline in which staff will present a May revision to the long‑range financial strategy and solicit council comments through secure folders; staff will subsequently expand the strategy to reflect community strategic plans, functional plans and department input. Cochran said staff will provide monthly updates on contingency planning and that department and program performance conversations will be scheduled across the remainder of the year.
Council members supported the approach and suggested including leading indicators and outward‑facing dashboards; one council member noted the environmental sustainability action plan dashboard as a useful model for public‑facing performance tracking. Cochran said staff will incorporate council feedback as they develop the performance reporting and long‑range strategy updates.
