My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Item A - Strategic Financial Plan
COE
>
City of Eugene
>
Council Agendas 2011
>
CC Agenda - 04/18/11 Work Session
>
Item A - Strategic Financial Plan
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/18/2011 11:55:29 AM
Creation date
4/18/2011 11:54:57 AM
Metadata
Fields
Template:
City Council
City_Council_Document_Type
Agenda Item Summary
CMO_Meeting_Date
4/18/2011
CMO_Effective_Date
4/18/2011
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
62
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Introduction <br />The Multi-Year Financial Plan (MYFP) is an annual compilation of significant unfunded financial challenges <br />and opportunities that the City of Eugene is expected to encounter over the next six years. The MYFP is a <br />practical tool to assist strategic thinking and planning. <br />The 2012-17 MYFP lists fifty individual items. The majority of these items include estimated unfunded costs, <br />but several items are placeholders with as-yet-to-be determined costs. If all those items with estimated costs <br />were funded they would total about $281 million over the next six years. Given the status of the economy in <br />recent years, along with significant needs facing our governmental partners and the length of time and process <br />needed to implement new revenue sources, it is unlikely that the City will be able to fully fund all of the items <br />in the MYFP. Therefore, it is recommended that certain items be designated as the highest priority for funding <br />in the near-term. <br />In this draft plan, nine items are recommended for highest funding priority. If these highest priority items were <br />totally funded, costs would total about $134 million over six years. The additional items, if fully funded, would <br />total an additional $147 million (not including placeholder items). Altogether, current estimates for all items <br />with estimated costs would total $281 million over six years. <br />What the Multi-Year Financial Plan Does <br />The MYFP is intended to provide a number of important benefits. <br />Linking of Council Goals process, many separate planning and facility management documents, General <br />Fund Forecast and other fund forecasts. <br />Making the best use of available election dates. <br />Better strategic, long-range planning. <br />Understanding of operational impacts of capital expenditures and maintenance-deferral decisions. <br />Provision of a better framework for the budget process and Capital Improvement Program. <br />Maintenance of a comprehensive inventory of unfunded challenges and opportunities. <br />Allowance of more time to prepare for expected problems. <br />Creation of an advanced detection system for funding “gaps” and likely fiscal challenges. <br />Facilitation of an organizational culture for “thinking ahead”. <br />Understanding and weighing alternative uses for the City’s available financial resources. <br />Help to accomplish Council’s goal of “Fair, Stable and Adequate Financial Resources”. <br />Evaluation of the need for possible new revenue. <br />Providing direction to staff on where to focus their efforts. <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.