TO: Honorable Mayor and Members of the City Council
FROM: Tom Kisela, City Manager
1. SUBJECT
title
Budget Risk and Economic Opportunities Advisory Services Presentation.
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2. SUMMARY
On February 25, 2025, the Orange City Council requested staff to bring back a presentation from Grant Thornton on a potential fiscal strategic plan. Representatives from Grant Thornton prepared a presentation on what they refer to as Budget Risk and Economic Opportunities Advisory Services. City staff recommend the City Council receive and file Grant Thornton's presentation and provide direction.
3. RECOMMENDED ACTION
recommendation
Receive and file a presentation from Grant Thornton LLP on Budget Risk and Economic Opportunities Advisory Services and provide direction to City staff.
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4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOALS
Goal 2: Enhance Economic Development and Achieve Fiscal Sustainability.
6. DISCUSSION AND BACKGROUND
On February 25, 2025, the Orange City Council discussed three separate studies and analyses that will help promote the City's future fiscal health, including:
1. The Audit Committee reviewing the City's past annual budgets and annual comprehensive financial reports.
2. The City conducting a Citywide organizational and operational assessment.
3. The City completing a fiscal strategic plan.
With respect to the fiscal strategic plan, the City previously met with representatives from Grant Thornton which is a licensed certified public accountant firm providing multiple financial services across the United States.
At that meeting, the Grant Thornton representatives suggested the City consider developing a fiscal strategic plan. Pursuant to the City Council's February 25, 2025 direction, representatives from Grant Thornton developed a presentation on what they refer to as Budget Risk and Economic Opportunities Advisory Services for the City Council's consideration.
At the conclusion of the presentation, it is recommended the City Coun...
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