The purpose of City’s Long-Range Financial Forecast is to provide long-term context for annual decisions that will be made with the FY2018 Budget and FY2018-2027 Ten Year Capital Plan.
The City’s Long-Range Financial Forecast looks ten years into the future and considers all appropriated funds. The City updates long-term planning activities annually based upon its June Strategic Planning meeting in order to provide direction to the budget process.
The Forecast includes general assumptions regarding future economic conditions, revenue and expenditure forecasts, strategies for achieving and maintaining financial balance, and plan monitoring mechanisms.
The City includes its Long-Range Financial Forecast in its annual budget document. The Forecast is reviewed with, and approved by, the City Council during the month of August each year.