C1: Board Member Faust Presentation — original pdf

Backup

Parks and Recreation Board Financial Committee PARB Bylaws Article 8 – Standing Committees  Bylaws adopted November 2016 mandate the Contracts Committee and Land, Facilities and Program Committee. Charge of LFP Committee to “serve in an advisory capacity on issues of development and programs of the public parks, playgrounds and recreational facilities, and the general welfare of the parks, playgrounds and recreational facilities.”  May 27, 2020 PARB discussed continuation or termination of Land, Facilities and Program Committee.  PARB could create a Financial Committee to replace Land, Facilities and Program Committee. Reasoning for and Operation of Financial Committee  Challenges to funding Parks and Recreation goals are increasing. State law changes to City’s control over property tax rate changes and COVID-19 related closures of fee generating activities and additional expenses are causing additional pressure on PARD; closure of fee-based programs and facilities may continue on and off into the future creating volatility.  PARB would benefit from members being able to develop more in-depth knowledge on budget issues and additional PARD funding opportunities, to provide meaningful input on budget and funding to PARD staff, and to be more effective advocates for PARD funding.  Financial Committee would set an annual agenda for itself each year outlining the financial items meriting consideration, including an annual review of capital improvements, an annual review of fees charged by PARD, proposals for generating income to be used for parks and parks acquisition, and at least two meetings reserved each year for reviewing the PARD proposed budget prior to presentation and consideration of the budget by the PARB. Next Steps  Board and Staff discussion on creation of Financial Committee as advisory committee to PARB on issues of budget, fees, revenue, funding and other financial matters.  Recommend PARB bylaw amendment at October PARB meeting.  City Council Audit & Finance Committee reviews and approves or denies at November meeting.