A long-range financial plan is the process to address issues impacting the City's ability to provide services in a financially sustainable manner.
Year 1 will focus on economic factors affecting revenues and expenditures based on the current service delivery plan.
Year 2 will focus on realignment of service delivery options to better reflect long-term finances for the City.
An annual update will revise current conditions before the budget process begins for the coming year.
Issues and Objectives include providing a financial five-year forecast for all funds (General Fund - Utilities - Capital Funds - Others) with revenue trends. And - analysis of reserves to recommend appropriate levels of reserve to adequately provide for program needs while complying with fiscal policies and legal requirements.
City Manager McKeen and Chief Financial Officer Olson led discussions during special City Council retreat on January 28, 2014. The presentation and draft Long Range Financial Plan are below
The Presentation and Draft Long Ranch Financial Plan are below: