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Item 3BCity Manager’s Report Financial Update March 3, 2009 Presentation Purpose Review current financial situation Discuss budget impacts Overview revenue enhancement efforts Describe next steps Current Situation Financial Budget performance Trending Economic Indicators Foreclosure data Bankruptcy data Other Budget Impacts Structurally balanced budget Q1 budget performance Revenues Expenses Economic summit with execs Prioritized projects Financial Performance Reviews (FPR) Modeling/Projections Revenue Enhancement FEMA grant = $650,000 CEDAP grant = equipment Texas Water Development Board grant application = water/sewer Homeland Security grant = Citizen Corp grant application ARRA/Stimulus Funds ARRA / Stimulus Funding Local government funding opportunities Transportation Community Development & Housing Energy & Environment Public Safety Homeland Security Workforce Development & Training Funding access Through State Agencies Through Federal Agency formula programs Through Federal Agency discretionary grants Next Steps Financial models Ongoing FPR discussions Mid-year budget amendment Ongoing monitoring Revenue enhancement efforts Discussion