FINANCIAL ADVISORY BOARD AGENDA ITEM
ACTION REQUESTED:title
Review of the City’s Financial Advisory Board Dashboard
body
DEPARTMENT: Finance Department
SUBMITTED BY: Erik Hallgren, Budget Manager
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
At the last Financial Advisory Board, staff presented a high-level overview document of the City’s major financial indicators. This dashboard included information related to the following major categories:
• Debt Summary
• Reserve Levels
• Investment Accounts
• Year-to-Date Financial Summary
• Citywide Headcount
• Key Meeting Dates
• Property Tax Information
• Pensions
Based upon feedback from the previous meeting, staff has made updates to the dashboard. These updates include:
• Removal of the investment account information as it will be presented through the Q2 investment report provided by Marquette
• Development of two dashboard pages
o Page 1 includes quarterly update items such as current financial indicators and meeting information
o Page 2 includes annual update items such as debt summary, reserve levels, headcount figures, property tax information, and pension data.
o In the linked file there is the option to move between page 1 and 2
• More detailed financial information. The updated dashboard includes:
o Year over Year comparison of performance
o Actual versus Budget comparison of performance
o The ability to choose specific categories to drill into and analyze
DISCUSSION:
Below is a link to the draft version of the Financial Advisory Board Dashboard:
<https://app.powerbigov.us/view?r=eyJrIjoiMTkwOGM3YzQtMjY3Yi00MmQ5LTliNDItN2Y5OWQxZWE2Y2ZiIiwidCI6ImI5YTBmOTlmLTRiZGUtNGI4MS04YjIxLWZjZWRkNDU4ZmVjNSJ9>