|Mayor Vidal Announces New Task Force to Study City’s Financial Future
DENVER, CO — Monday, January 31, 2011 — Mayor Guillermo (Bill) V. Vidal today officially announced creation of a new task force that will develop options to address the structural deficit the City and County of Denver faces in future years. Denver’s Chief Financial Officer, Claude Pumilia, will lead the Structural Financial Task Force comprised of 21 community, business, and civic leaders.
“Even with economic growth, our projections show that expenses will grow faster than revenues in the future. This task force will carefully review the current expense and revenue profile of the City and County of Denver and then develop long-term structural options that address the City’s budget challenges,” said CFO Claude Pumilia.
The goals of the Structural Financial Task Force (SFTF) are to:
- understand the City’s revenues, expenditures, tax structure, and the root causes of the structural gap
- vet expenditure and revenue ideas that could close the structural gap
- recommend a package of expenditure and revenue options that will address the long-term structural gap
The task force plans to meet on a monthly basis beginning in February 2011 and have recommendations to the Mayor, City Council, and the citizens of Denver by the end of the year.
“I would like to thank those who have generously volunteered their time to participate in this important endeavor,” said Mayor Vidal. “I am sure the City will benefit from the task force’s recommendations.”
Structural Financial Task Force
The Structural Financial Task Force is charged with addressing Denver’s long-term structural imbalance between operating revenues and expenditures. Recommendations from this committee will focus on the long-term structural problem beyond 2012.
- Odell Barry, President, Barry & Associates
- Denis Berckefeldt, Director of Communications, Office of the Auditor, CCD
- Wayne Cauthen, Former Chief of Staff, City and County of Denver
- Rob Cohen, Chairman and CEO of IMA Financial Group, Inc.
- Peter Culshaw, Executive Vice President, Shea Properties Colorado
- Eric Duran, Vice President, Public Finance, Investment Banking, D.A. Davidson & Co.
- Lindy Eichenbaum-Lent, Executive Director, Civic Center Conservancy
- Jack Finlaw, Chief of Staff to the Mayor, City and County of Denver
- Mike Fries, President & CEO, Liberty Global, Inc.
- Albert Gonzales, President, Gonzales Consulting Services, Inc.
- James Griesemer, Professor and Dean Emeritus, Director University of Denver Strategic Issues Program
- Gloria Higgins, President of Genspring – Denver Office
- Richard Lewis, President & CEO, RTL Networks, Inc.
- David Miller, President & CEO, The Denver Foundation
- Councilman Chris Nevitt, City Council President
- Rick Pederson, Partner, Bow River Capital Partners
- Claude Pumilia, Chief Financial Officer, City and County of Denver
- Lisa Roy, Executive Director, Timothy & Bernadette Marquez Foundation
- Ed Scholz, Budget Director, City and County of Denver
- Kent Thiry, Chairman of the Board, CEO & Mayor, DaVita Village, Davita, Inc.
- Thom Williams, CEO & President, Williams Group, LLC