HomeMy WebLinkAbout1992-01-29 - AGENDA REPORTS - LONG RANGE FINANCIAL PLAN (2)CITY OF SANTA CLARITA
I N T E R O F F I C E M E M O R A N D U M
TO: Mayor Klajic and members of the City Council
FROM: Andrea Daroca, Director of Finance /' Y
DATE: January 21, 1992
SUBJECT: Long Range Financial Plan
BACKGROUND
The City of Santa Clarita's Finance Department .has compiled a ten year
financial forecast to provide insight into future expenses and revenue sources
and better equip City decision makers with valuable financial information. In
recognition of the economic uncertainty every City faces during a recession,
this document comes at an excellent time. This Long Range Financial Plan is a
result of each City department's submission of projected costs,- and expected
funding levels within their.specific revenue categories. Because the general
fund contains the majority of the. City's "general" governmental services, the
Long Range Plan focuses on this particular fund.
This Plan provides a 10 year financial forecast given existing revenue and
expenditure trends. Departments are broken down into divisions allowing for
ease of use and to better inform the public of all major revenue sources, each
department's individual functions, and projections on anticipated increases.
The Long Range Financial Plan provides a base on which to test alternative
assumptions regarding program levels and revenue measures. The Plan also
affords a mechanism for determining the City's sensitivity to federal and
state economic influences, which are beyond the direct control of the City.
Overall, the Plan will serve as a constructive tool in terms of submitting
insight into financial projections and future City directions.
RECOMMENDATION
Receive and file.