Review of finances, strategic goals on Fort Smith Board study session agenda

A review of the mid-year financial report and a review of strategic goals – which include homeless issues and the consent decree – set in December 2023 are agenda items for the Fort Smith Board of Director’s study session on July 29.

The meeting, set to begin at 6 p.m. and telecast live, will task directors to discuss with city staff the 26-page “interim financial report” of the city’s operating funds. Following are summaries of key city funds.

General Fund
January-June revenue: $23.725 million
January-June expenditures: $34.258 million
$10.533 million deficit
Fund balance to begin January: $35.472 million
Fund balance at the end of June: $24.938 million

Water and Sewer Operating Fund
January-June revenue: $32.426 million
January-June expenditures: $29.117 million
$3.309 million surplus
Working capital balance to begin January: $22.549 million
Working capital balance at the end of June: $25.859 million

Solid Waste Operating Fund
January-June revenue: $10.74 million
January-June expenditures: $11.045 million
$304,986 deficit
Working capital balance to begin January: $11.97 million
Working capital balance at the end of June: $11.655 million

Street Maintenance Fund
January-June revenue: $4.812 million
January-June expenditures: $5.441 million
$628,474 deficit
Fund balance to begin January: $9.082 million
Fund balance at the end of June: $8.453 million

STRATEGIC GOALS
According to the agenda, following are the strategic goals adopted by the board in December 2023.

Goal 1: Reduce neighborhood blight by providing more resources for demolition and code enforcement. Examine the use of a grid-based code enforcement program.

Goal 2: Using public/private partnerships, philanthropy, and the City’s strong fiscal condition to reduce the threat of homelessness by supporting the transition of Next Step to their new location and by implementing policies to help grow affordable housing.

Goal 3: Strengthen relationships with federal and state agencies to reduce effects of the consent decree with a focus on having the Mayor, Board of Directors, and City Administration to meet with the City’s Congressional Delegation, federal departments, and State Leadership to reduce the burden of the consent degree while maximizing the Foreign Military Sales project, etc. Additional time for the consent decree is requested.

Goal 4: Mitigate the rise of inflation and impact on our city services by prioritizing the needs of City government versus the wants of City government.

Goal 5: Hire assistant to the Deputy City Administrator to assist with the work of the City Administrator, to free the City Administrator the time to focus on the Foreign Military Sales, economic development, blight, and the regional airport, with regular reports to the Board of Directors.

Goal 6: Increase water supply and pressure by preparing a plan to ensure uniform supply and pressure throughout the City and develop a financial plan to fund it.

Acting City Administrator Jeff Dingman said the board may want to set aside a special facilitated meeting to update and revise the strategic goals.

“Following review of these existing strategic goals on July 29, the Board should discuss its preferred process for updating and revising the Strategic Goals for 2026,” Dingman noted in a July 24 memo to the board. “If the Board prefers a facilitated process like we’ve done before (last time was Septermber 2023) we should discuss that Tuesday evening and get it scheduled.”

Dingman in his memo said the goals, which included input from the Future Fort Smith Comprehensive Plan, should be SMART – specific, measurable, achievable, relevant, and time-bound.

“Aligning them with the long-term vision and available resources of the community ensures that steady, incremental progress leads to meaningful, lasting outcomes,” Dingman wrote.

Link here for the PDF of July 29 board agenda packet.