2001 Comprehensive Annual Financial Report

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Enterprise Funds that include operational activities. It is the City's goal to maintain cash reserves of at least 15% of operating expenditures ~afier funding capital needs for the current year} for each of these operating funds. Over the past five years, the City has been able to more than double its $9.3 million General Fund reserves, which stood at $4.2 million ~ I 1 % of the operating budget} at the start of 1997. The Administration and Finance Department, along with all other department fiscal staff, continues to strive for overall improvement in providing meaningful and timel f nancial y information to C1ty Management, Common Council and the general public. Same slgn~ficant enhancements included revenue and expenditure forecasting on amulti-year basis and the identif cation of the ongoing projected operational impact resulting from the City's future anticipated capital expenditures. The forecasting process has also enhanced the budgeting process by enabling City Management and the Common Council to compare anticipated actual results with the projected financial needs for the coming year. The most significant improvement in this area during the past year has been the creation of amulti-year forecast system for all operating and capital funds. This new forecast model will be an important tool to use when determining the City's long-range expenditure plans. The City's 2000, 2001 and 2002 Performance Based Budget Books were significantly enhanced over the past three years in a variety of ways. The most important (and time consuming!} improvement accomplished was the creation and inclusion of the City's Program Logic Models. During late 19981early 1999, all department heads and key staff members embarked upon intensive training aimed at developing skills to better measure performance outcomes through development of program logic models. This training was primarily aimed at enhancing the City's Performance Based Budget process while providing a tool to help programs improve services. The logic model concept includes the identification of desired program outcomes representing departmental goals and objectives} and performance indicators that attempt to measure the success of our programs. This process will help City employees determine whether or not the resources they expend actually produce the benefits desired for its customers. Although this is an ongoing process, we believe our efforts during the past three years have allowed us to take a giant step forward in improving accountability and helping us determine if the City's programs really make a difference in the lives of the people that live and work in this community. The process of completing these logic models provided departments with the opportunity to reassess their long-term objectives specifically as they relate to the City's overall goals. It also served to strengthen our resolve to become a model city. The City submitted its 2002 Performance Based Budget earlier this year to the Government Finance Gfficers Association of the United States and Canada ~GFGA} for its consideration for the "Distinguished Budget Presentation Award Program," The City was presented with this prestigious award for the fifth year in a row during December 2001 for its 2001 Performance Based Budget document. Ci ide Goals and Db'ectives for ZDO1 and Be and The City has developed eight broad goals that focus on the following areas: economy, safety, quality of life, trust, responsiveness, infrastructure, finance and workforce. The City has xiv