TACOMA'S BUDGET IN THE TIME OF COVID-19: AN INTERACTIVE WORKSHOP 1 - PowerPoint PPT Presentation

TACOMA'S BUDGET IN THE TIME OF COVID-19: AN INTERACTIVE WORKSHOP 1

AGENDA • Strategic Priorities • Commitment to Anti-Racism • Budget Overview • Balancing Act – Interactive Workshop 2

WHAT’S A GOOD BUDGET Leads with Equity and Anti-Racism Establishes Alignment with Organizational Goals Focuses on Results & Outcomes Given Available Resources Incorporates Long Term Perspective Promotes Fiscally Responsible Actions by Staff Involves & Promotes Effective Communication with Community 3 3

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COMMITMENT TO ANTI-RACISM • Resolution 40622 affirms the City Council’s dedication and commitment to comprehensive and sustained transformation of all institutions, systems, policies, practices, and contracts impacted by systemic racism, with initial priority given to policing. As well as, establishing new practices, centering the voices of those most impacted by systemic racism. • Directs the City Manager to: Prioritize in Budget and Evaluate and Transform Build Legislative Platform Recovery Services • Work with the City Council • Keep anti‐racism as a top • Prioritize anti‐racism in to build a legislative priority in the process of both the evaluation of new platform at the local, state, budget development and policies and programs as and federal level that prioritize anti‐racism in our well as transforming transforms institutions COVID-19 economic recovery existing services, with impacted by systemic strategy initial priority of policing; racism. 5 5

BUDGET STRUCTURE – 2019-2020 $1.883 B $3.51 B 6 6

FORECAST – PRELIMINARY COVID IMPACTS Revenue Expense $310 Millions $290 $270 $250 Gap Gap $230 Gap Gap -$44M -$40M Gap $210 -$38M Gap -$36M -$35M $190 -$32M $170 $150 2021 2022 2023 2024 2025 2026 • Dependent on Epidemiological Progression, Closures and Response Efforts, Community Support Tools, General Economy 7

BALANCING ACT – INTERACTIVE WORKSHOP 9

TACOMA'S BUDGET IN THE TIME OF COVID-19: AN INTERACTIVE WORKSHOP 10