Beaumont Appoints Interim Financial Advisor

City of Beaumont press release, image via shutterstock

On Monday, June 15, 2015, the Beaumont City Council met for a Special Meeting to discuss their concerns over the City’s current financial situation.

The Beaumont City Council voted in favor of appointing Urban Futures as the City’s interim Financial Advisor.

During the City Council meeting on Tuesday, June 16th, Mayor Brenda Knight provided an overview of the Special Meeting. “Based on recent audit reports and staff turnover that was responsible for the City budget, the City Council determined that a fresh set of eyes, a new financial advisory team would help in developing a budget for the Council to review. They will also assist the Council and City Manager in aggressively addressing any financial issues they document in their review,” stated Mayor Knight.

During the Workshop portion of Monday’s meeting Michael Busch, CEO of Urban Futures, and Bob Deis, Senior Consultant of the Public Management Group, gave a presentation which highlighted their initial observations and deliverables for Beaumont. The team will conduct a full independent evaluation of the City’s financial practices and provide an unbiased report on the condition of the City including its fiscal solvency. Urban Futures will also assist in developing the 2015/16 budget. The goal for the budget process is to develop a budget that is legal, ethical and defensible, but will also provide Beaumont with a plan for fiscal sustainability into the future.

The new fiscal year budget is expected to be completed by August. Mayor Knight avowed, “The entire Beaumont City Council is united in getting to the bottom of their financial management concerns and resolving them.”

To view Urban Futures presentation, please visit www.BeaumontCares.com.

Urban Futures, Inc. (UFI) is a full service municipal consulting firm serving cities, counties, school districts, special districts, private higher education and non-profits since 1972.