City of Bloomington, Indiana Budget Presentations for FY2021, 17 Aug 2020

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From YouTube: Controller FY2021 Budget Presentation

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Presented by Jeff McMillan and Kevin Curran on August 17, 2020

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We can't hear anything.

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I thought it was just me.

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With the speakers please, okay.

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Okay, jeff mcmillan, here and uh deputy controller, and why we exist indiana state legislature, ic code, 36496 establishes the controller's office. uh We do internal service department.

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uh Where'd we go here uh this we have protocols for 22 departments, an additional oversight and interaction with the bloomington transit and housing authority, redevelopment commission, postcard trimble theater and the bloomington urban economic association.

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Background the controller serves as chief financial officer and there's 12 staff in the office. We do accounts payable, accounts, receivable grants payroll, do the annual budget, of course, internal audit, audit controls, veteran state reporting, uh police and fire pensions. uh Major initiatives switch up which would be like switzerland park convention center.

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uh The current and new hospital parking garages, okay.

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Budget goals, uh core functions, accounts, receivable accounts, payable, uh some of the goals are to increase electronic funds transfer the process reduce the process of paper checks and end of uh fourth quarter to ensure payments received by city departments are deposited within the statutory requirement.

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Last year we deposited it, we had over 7 400 journal entries and also we're going to maximize our investment, while keeping our banking costs down.

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Okay, next budget goals, managing the budget, coordinating activities related to development, presentations, submissions and approval of the city's annual budget, coordinate with city departments, ensure parents to budget timelines, improve consensus. Consistency across the other uh organizations uh improved budgeting process to allow more result-driven focus.

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Okay and we're on okay: uh let's see what is the budget goals? Research convert financial statements to gaap. uh We work closely with consultants for the 2019 financials to gaap and hopefully have that done by the end of third quarter: select implementing community development and document management.

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We've acquired uh intergov community development software and on base documentation management, software and we're working to for the integration of teams, with those accounts payable, um increase the efficiency of electronic transfers over paper checks and uh to 74 to 76 by the end of the fourth quarter of next year.

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Our revenue collections uh deposit by the next requirement of the next business day and ensure corrections are made within two business days and remain at or below one percent corrections that would be needed.

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Payroll goals um issue all payroll checks on a bi-weekly basis, ensure tax reports within you know the month end for the quarter and the federal also uh issue all manual checks within one business day of receiving the request for missed payrolls or timesheets, or something on someone's, okay cash management maximize the city's rate of return, monitor banking fees and uh upload all the required reports to the state board of accounts within the 45 days of month.

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End purchasing go with uh trying to implement a requisition decrease staff time associated with purchase orders of new employees in the new world in the new world, decrease the cost of items purchased by reorganizing vendor categories and commonly commodity item numbers.

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Budgeting, coordinate with city departments again and distribute the budget presentations in august of 2021.

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budgeting goals.

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Issue budget package, the council, by the friday, before the budget meetings next uh research projects attain the gfoa certification for the comprehensive annual financial report and for 2020., okay.

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Special projects monitor make recommendations. Fourth quarter enough for public safety income tax, including dispatch and police and bloomington fire, provide ongoing support for the convention center expansion and the food and beverage tax.

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Okay, internal audit uh obtain uh an opinion for the state board of accounts without any major findings by the end of fourth quarter. Next year uh also conduct uh cash accounts, minimum of uh twice annually to go and count petty cash around make sure the cash is still there.

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uh Okay category three changes um decreased four hundred thousand dollars because we already have implemented uh already purchased a community development and the document software. So that's a decrease and the that's. Our major decrease our supply state, the same personal charges. Okay, here we go so we have the recover forward, which is 114 thousand dollars for monitoring and admin of the other funds.

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uh Not we have several funds that are not uh general fund, which is a rainy day fund. The two million dollars we have, the uh bloomington investment incentive fund, non-reverting fund showers bond fund will be paid off for the showers lease and 20 in february 2021 we have a couple uh general obligations, bond ones, the city general obligation bond of 2016 and the parks general obligation about also 2016 will be paid off in august of 36., the bicentennial bond will be paid off in august of 38..

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uh The vehicle replacement fund uh is at 400 000 and some less 200 000 this year. um I think it was 600. 000 was an ask last year and that asked this year is going to be four hundred thousand two hundred thousand for parks, two hundred thousand for uh uh unanticipated replacements, of equipment, west of the police and fire pension funds. There's uh roughly 97 pensioners for the older plan of uh 1977 1937 plans.

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Those are reimbursed the following year to us or what we pay out.

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And there's a summary of what is there um and then that changes and the police and pension fan fire fire pension went up just a little bit.

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And what else I think that is about it? I can take any good questions and thank you for considering the controller's office.

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