HomeMy WebLinkAboutMemo - Mail Packet - 4/27/2021 - Memorandum From Travis Storin And David Lenz Re: April 13, 2021 Work Session Summary - Financial Update
215 N Mason Street
2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6795
970.221.6782 - fax
fcgov.com
MEMORANDUM
DATE: April 16, 2021
TO: Mayor Troxell and City Councilmembers
THRU: Darin Atteberry, City Manager
FROM: Travis Storin, Chief Financial Officer
David Lenz, Financial Planning & Analysis Director
RE: April 13, 2021 Work Session Summary: Financial Update
This Council Work Session item was focused on a review of financial results for 2020 and an update
on the outlook for 2021 and 2022. All Councilmembers were present for this fully remote work
session.
The presentation included an update of the , unaudited financial condition at year-
end 2020 including the response to the economic impacts of the COVID-19 pandemic, provided an
updated outlook for the balance of 2021 and offered a first glimpse into the environment facing us as
we start the process of evaluating 2022 BFO offers.
Following the presentation, discussion with Councilmembers acknowledged the work City staff had
done in the face of the pandemic impacts. Key themes of the discussion regarding the 2022 BFO
process centered on:
Critically evaluating restoration offers
Prioritization of using sustainable funding of our ongoing expenses
Acknowledgement that the City's fiscal status is not a perfect reflection of the underlying Fort
Collins economy.
Further information will be included in the Economic Health update to the newly seated Council that
is scheduled for May 25.