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A Discussion of the Draft External Agency Funding Policy and Direction to Staff
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Introduction
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Staff is presenting a draft policy for Finance Committee direction on how existing and future direct and indirect funding relationships with external agencies should be evaluated, approved, documented, and monitored, including their fiscal and operational effects on the Village.
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Recommended Action
Staff recommends that the Finance Committee review the attached draft External Agency Funding Policy and provide direction regarding its scope, the treatment of existing agreements and new requests, the approval and oversight structure, the evaluation of Village financial and operational impacts, and accountability requirements. Based on the Committee's direction, staff will revise the policy and bring it forward to the Village Board for consideration.
Prior Board Action
There is no prior Board action associated with adoption of a comprehensive External Agency Funding Policy. Individual external agency funding and financing arrangements have historically been considered through separate budget items, agreements, resolutions, or ordinances.
Background
This item is a core service priority related to financial stewardship, transparency, accountability, and long-term planning. The Village has historically supported nonprofit organizations, sister governments, and other partner organizations through a range of arrangements. Existing relationships include, among others, the Oak Park Area Arts Council, Downtown Oak Park Business Alliance, Explore Oak Park and Beyond, and the Collaboration for Early Childhood. The purpose of the proposed policy is not to predetermine the continuation or termination of any specific partnership. It is to establish common standards for determining the benefit to residents, the full cost and risk to the Village, and whether the arrangement remains aligned with Board priorities and available reso...
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