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2012 Business Plan

2012 Business Plan. Finance and Facilities. 2011 Successes - Finance. Ongoing Activities: Year end reporting and audit for the City and PMEDC Property Tax Time Budget and Business Planning Projects and Initiatives: Hiring of new Manager of Financial Services

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2012 Business Plan

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  1. 2012 Business Plan Finance and Facilities

  2. 2011 Successes - Finance • Ongoing Activities: • Year end reporting and audit for the City and PMEDC • Property Tax Time • Budget and Business Planning • Projects and Initiatives: • Hiring of new Manager of Financial Services • Implementation of “CityWide” for accounting for the City’s tangible capital assets • Progress on Water Billing processes, with Development Services • Complete insurance recovery for Struthers House and Wharf repair • Implementation of payroll services for Paid on Call firefighters • Arena • Borrowing process for the completion of the renovation • Direct payment of trades, contractors & professionals • Grant reporting and claims • Support process and implementation of agreement with long term operator • Review of operator statements and billings

  3. 2011 Successes - Facilities • Ongoing Activities: • Preventative maintenance coordination • Tenant/User relations • Projects and Initiatives: • Commenced Parkade operations • Refurbishment of Fire Hall kitchen • Exterior Painting of the Tourism/PMEDC Building • Interior Painting of the Community Policing Office • Struthers House perimeter drainage • Electrical and code upgrades at Masson House • New Library space planning • Risk Management training

  4. Significant Issues & Trends • Long term financial stability and sustainability • Demands for information/service • Public • Vendors • Departments • Proactive risk management • Efficient building operations • Workspace

  5. 2012 Actions • Long Term Financial Planning – Why? • Manage Financial Stress • Long term approach to issues • Counteract multi-year budget volatility • Financial strategies for capital projects • Policies to achieve those desired outcomes

  6. 2012 Actions (cntd.) • Long Term Financial Planning – How? • Basic Process: • Mobilization • Analysis • Decision • Execution • Role of Council • Role of Public • Thorough, time consuming process, likely into 2013

  7. 2012 Actions (cntd.) • Other Actions: • Review Permissive Exemption Policy • Develop Policy for Alternate Bill Payments by Customers • Update of Water System Accounting and Billing Processes • Review Third Party Services for RFP’s – Banking, Audit, Investment

  8. 2012 Actions (cntd.) • Review Vendor Payment Strategies for Optimization • Participate in needs analysis/strategy for budget and related financial processing and information systems • Continue to Enhance Organizational Capacity for Risk Management • Update Risk Management Policy • With ODS, Develop Automated Building Inspection Checklist • Support Construction for the New Library • Support Redevelopment of Existing Library Building

  9. Proposed Operating Budget

  10. Proposed Capital Budget • Total of $813,000 and is summarized in the Capital Assets Business Plan. • $300,000 to carry forward for the completion of the new Library space • $413,000 for renovations and upgrades to the old library building • Minor life cycle projects in facilities

  11. Discussion

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