Staff will spend the next several months focusing on four areas before discussing ways to implement changes next year, she told Plano City Council during a Sept. 9 preliminary open meeting.
“We’re going to get to work in small focus groups to redevelop and redefine [the policies],” Siemer said. “Once the policies are set, we’re going to broaden our focus groups deeper within the organization to talk about how we’re going to implement [them] and we’re going to have an action plan.”
The approach
City staff will meet in small focus groups to determine recommendations, which will be presented to council no later than January 2025. According to a staff presentation, discussions will center around four main areas: city financial policies, a long-range financial model, analytics and accountability, and budgeting process changes.
Siemer said several policies will be discussed in the focus groups, including:
- The minimum reserve balance for city funds
- Reviewing parameters for depreciation of capital assets, such as city vehicles and equipment
- The creation of an analytic dashboard to better understand the budget
- The use of cost recovery guidelines for city services
What’s next?
Siemer said city staff will discuss ways to implement the updated policies between January 2025 and June 2025, ahead of adopting the 2025-26 fiscal year budget.
Council action may be required to implement some of the recommendations brought forward by staff, she added.
