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Finance director outlines April report, cash and investment posture; seeks clearer forecasting practice
Summary
Finance Director Richard presented the April 2025 financial report, discussed changes to forecasting practice, and walked council through cash, investments and TBD revenue expectations.
Finance Director Richard told the Committee of the Whole on May 20 that he has revised the city’s forecasting approach and provided a monthly reconciliation designed to make cash and fund-balance calculations more transparent.
Richard said forecasting must look forward rather than rely solely on long historical averages; he has shortened the look-back from five years to two for some projections, said ongoing departmental conversations are a key forecasting input and said he will produce a capital-project status report in…
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