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REMAINING QUESTIONS & ISSUES
Budget & fund balance Use
- Why do the numbers for a necessary fund balance, budget for the senior center, and sources of funding other than fund balance fluctuate so significantly from the FH City Council and the Finance Director from meeting to meeting?
- If $25M and not the original $35M the Council previously estimated is being discussed as the budget for the Senior Center, what will be missing in the design from the original estimate?
- Wouldn't $35M be attainable if the $11M from other sources that has been discussed is added to a very attainable $25M that is readily available in the city's fund balance?
- The Government Finance Officers Association (GFOA) recommends that cities maintain a 17% - 25% unrestricted fund balance. Our current budget is about 90 million dollars and our current fund balance is $59M. This equates to a roughly 66% fund balance. What GFOA recommends as a sound fund balance is approximately $22.5M, leaving $36.5M recommended to spend down and available to use for the senior center and still maintain a very healthy fund balance for the city.
- It is not recommended to have huge fund balances in a municipal or school district budget. Having so much money unused could be the reason a federal government grant requested by State Rep. Steckloff and monies requested from Oakland County did not end up being granted to support the senior center. The very large fund balance we have could also be detrimental when negotiating new contracts.
- We want the city to be fiscally responsible and maintain the bond rating we have, but hoarding fund balance and not taking care of long-term high tax paying senior citizens is not responsible to the citizenry.
- With Farmington Hills having one of the highest tax rates in Oakland County, shouldn't the needs of the seniors be taken care of? Afterall, the Costick Center has been in disrepair for a very long time.
- We urge city officials to utilize internal fund balances and other sources of monies before proposing new taxes.
Safety & Accessibility
- A multi-story design presents major risks for seniors with limited mobility during emergency evacuations.
- Elevators and stairwells are not a reliable exit strategy in a crisis.
- We maintain that a single-story layout is the safest standard for accessibility and resident security.
Public Transparency
- Major public developments must be discussed openly.
- We are here to ensure that site selection and repurposing plans are held to the highest public standard and community engagement.
- Transparency in financial planning is essential for our community's fiscal health and long-term sustainability.
- When will new regularly scheduled Ad Hoc meetings be developed?
- When will a community Listening Session be scheduled?
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