Measuring City's Performance through Dashboards/Scorecards
We hope the Financial Dashboard provides a clear picture of the City's Financial performance. The areas covered by this interactive dashboard include Millage Rates, Fund Balance, Revenues, Expenditures, Personnel, Other Funds, Library, Capital Improvements, Utilities and Debt. The Dashboard and Citizen's Guide is the Accountability and Transparency requirement under the State of Michigan Economic Vitality Incentive Plan (EVIP). Understanding the current status and future prospect of the City of Wixom's financial health/condition is an integral responsibility of City Council and the professional staff, and is essential to paving the way to prosperity for the generations to come.
In July 2011 the Local Audit and Finance Division, Bureau of Local Government Services of the State of Michigan provided guidance on preparing a Citizens’ Guide and Performance Dashboard to meet part of the provisions of the Economic Vitality Incentive Program. The City may use their Popular Annual Financial Report (refer to the Government Finance Officers Association (GFOA) award program) as the Citizens’ Guide, if it includes additional information about unfunded liabilities. You will find additional information related to unfunded liabilities and the Water and Wastewater Utility Funds.
Beginning October 1, 2011, the City will need to meet certain requirements to be eligible for a portion of statutory revenue sharing under PA 140. Under the Economic Vitality Incentive Program (EVIP) the City will need to meet three requirements.
As indicated on the State of Michigan’s website “Public Act 63 of 2011, introduced the Economic Vitality Incentive Program. Each city, village, or township that received a FY 2010 statutory payment greater than $4,500 and fulfills the specific requirements for all of the three categories will be eligible to receive a maximum of 67.837363% of its FY 2010 total statutory payment (rounded to the nearest dollar). An eligible city, village, or township will receive 1/3 of the maximum amount for each of the three categories they fulfill the specific requirements for. The three categories are Accountability and Transparency, Consolidation of Services, and Employee Compensation. Each eligible city, village, or township must submit the certification form and required attachments for each category to qualify for payment. Any local unit that falsifies certification documents shall forfeit any future economic vitality incentive program payments and shall repay the state all economic vitality incentive program payments it has received. Detailed information regarding each category can be found in Public Act 63 of 2011.”
Estimated City ofWixom Projected EVIP Payments
Requirement 1: Accountability and Transparency
The purpose of the Citizens’ Guide and Popular Annual Financial Report is to provide citizens with a document that will help them better understand their City’s finances. We hope this presentation which shows important financial measures will be easily understood by the City’s citizen.
The City has prepared the Performance Dashboards to be included on our website. These Dashboards include interactive financial and operating measures that are most important to the government and its citizens. As indicated by the State “Meeting this criterion will require the local unit to report on measures such as fiscal stability, economic strength, public safety, quality of life and other measures the local unit select that are relevant to the local unit’s strategic goals and objectives.” These measures are shown in the Scorecard which shows measures on the local, state, and national level.
Requirement 2: Consolidation of Services
By January 1, 2012 the City must prepare a consolidation plan with proposals on how to increase existing levels of cooperation, collaboration and consolidation. The report must include past efforts in collaboration along with estimated cost savings and potential future savings.
Requirement 3: Employee Compensation
By May 1, 2012 the City must certify that they intend to implement certain changes to the employee compensation packages. These changes will include any employment contracts for any new, modified or extended contract.
The Financial Scorecard and Dashboard provides a clear and powerful picture of the City’s financial condition and areas that need improvement. We hope this interactive tool provides visual meaning to the financial numbers and, provides information on financial trends. The information in the Financial Dashboard will be updated annually.