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Alderman postpones action on financing/affordability ordinance to coordinate with finance staff
Summary
Alderman Arnett said the Finance Committee postponed action on a bill to expand the Financial Advisory Commission's duties so he can review whether forecasts should be produced inside the finance department or by an outside contractor; Economic Matters postponed action to September to allow further work.
Sponsor Alderman Arnett told the committee July 16 that the Finance Committee had asked for time to explore alternatives to the ordinance that would expand the Financial Advisory Commission's responsibilities for long-term fiscal forecasting.
Arnett said Finance postponed its action to September to allow the sponsor and finance staff to consider whether forecasts and related services should be procured through the Finance Department directly rather than contracted through a third party. "They've postponed taking any action until September to give me time to work with the finance department on several different issues," Arnett said. He told the committee he expects to return with revised language or alternative procurement options after discussions with finance staff and with the Financial Advisory Commission.
Committee action: The Economic Matters Committee voted to postpone consideration of the ordinance until the September meeting so sponsor and staff can complete their review and report back.
