The City successfully navigated the recent recession using various techniques common to short-term revenue situations, and City Council and staff believes that it can be less reactive and more strategic in its financial planning. Therefore, in order to improve decision-making and be more strategic, the City initiated a process to develop a long-range financial model and plan that will help it be more strategic, resilient, and sustainable.
To assist the City with this effort, it engaged FCS Group to help great a financial modeling tool for the City's major activities that include five major City funds:
General Fund
Street Fund
Building Fund
Water Fund
Stormwater Fund
On January 27, 2015, the FCS Group presented the financial plan to the City Council and staff. Following discussion of the plan, council and staff suggested a few minor changes and gave approval for the plan to be finalized.