HomeMy WebLinkAbout65C - FISCAL 2015-16 FORECAST AND 4 YEAR REVIEWREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
FEBRUARY 17, 2015
TITLE:
ADOPTION OF FISCAL YEAR 2015 -16
FORECAST AND REVIEW OF
FOUR YEAR PROJECTIONS
(STRATEGIC PLAN NO. 4,2)
CITY MANAGER
RECOMMENDED ACTION
CLERK OF COUNCIL USE ONLY:
, * taJ
❑ As Recommended
❑ As Amended
❑ Ordinance on 1" Reading
❑ Ordinance on 2nd Reading
❑ Implementing Resolution
❑ Set Public Hearing For
CONTINUED TO
FILE NUMBER
Adopt the forecast for fiscal year 2015 -16 and review of the four -year projections.
DISCUSSION
The City's fiscal position and forecast continues to demonstrate improvement for the current fiscal
year. The most recently completed quarter projects general fund revenues exceeding previously
budgeted projections. The revised five -year forecast and projections includes moderate sales tax
and property tax growth, as well as increased revenue projections in permit fees and plan check
activity for fiscal year 2015 -16. Overall, the forecast allows for a balanced budget and a positive
forecast over the next five years.
STRATEGIC PLAN ALIGNMENT
Approval of this item supports the City's efforts to meet Goal #4 City Financial Stability, Objective
#2 (provide a reliable five -year financial forecast that ensures financial stability in accordance with
the strategic plan).
FISCAL IMPACT
There is no fiscal impact associated with this action. However, adoption of the forecast would
allow continuous funding for the Strategic Plan and planning for the upcoming fiscal year 2015 -16
budget.
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