2016 Approved Budget and CIP - Laserfiche WebLink

Home

Financial Plan – Executive Summary Enclosed is an executive summary of the 2016-2025Financial Plan as prepared in accordance with the goals and aspirationsidentified by the City Council. Like the Capital Improvement Plan(CIP), the Financial Plan should not be construed as a request for funding; rather it is designed to serve as a planning tool that can be used to make informed financial decisions. While the CIP addresses the City’s long-term capital needs, the Financial Plan focuses on day-to-day operations.The Financial Plan makes the distinction between general-purposeoperationsand enterprise or business-typeactivities. General Purpose operationsare typically supported by property taxesand include the following functions: Police Fire Streets Parks & Recreation Information Technology In contrast, business-type functionsare generally supported by fees and permits and include the following functions: Water Sanitary Sewer Storm Sewer Golf Course Recycling Community Development Communications License Center Each of these separate operational categories is discussed in greater detail below. General Purpose Operations Over the next 10 years,the City’s general purposeoperations are projected to collectively grow 3% per year, from $20.9million in estimated expenditures in 2016to $27.2million in 2025. This assumes that the City will continue providing the same programs and servicelevels asit currently does. The projections incorporate increases in personnel, supplies & materials, and other operating costs includingtechnology- related equipment. These projections also include the following annualassumptions: 3% increase in personnel, supplies & other charges, and technology-related equipment 3-4% growth in property tax revenues 2-3% growth in non-tax revenues 2% earnings on investments Declining reliance on the use of excess cash reserves 84