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Finance director outlines timeline to update long‑range financial strategy and fiscal policies
Summary
Finance Director Kelly Cochran described plans to develop a long‑range financial strategy from May through August, align fiscal policy updates with that strategy, review fiscal policies in FAC in October and hold a study session on Oct. 28; staff also flagged D365 performance measures and upcoming quarterly financial reports.
Finance Director Kelly Cochran presented an update on the city’s long‑range financial strategy and fiscal policy review. Cochran said staff will begin work on the long‑range financial strategy in May and work through August, with the strategic components informing a subsequent review of fiscal policies.
Cochran said the strategic plan will align fiscal policies with the council’s current priorities and that staff plan to review the fiscal policies through FAC in October and hold a study session on Oct. 28 to review both items. She also said staff will use the council SharePoint site to share working documents and background materials and will email council a schedule of dates and materials.
Cochran tied the work to other items discussed in the meeting, including the D365 AP automation project, which she said staff will measure and report performance outcomes for. She said staff will provide a fourth‑quarter financial report at next week’s council meeting and a first‑quarter report in May, noting that only data through February are available today. Cochran also said staff added a November study session to review performance measures and status of service enhancement packages funded in the current biennium.
Councilmembers welcomed the timeline and asked staff to circulate dates and materials. No committee action beyond direction and scheduling was taken.
