AGENDA DATE: 12/15/2021
TITLE:
Title
Five-Year Financial Plan Work Session
BODY
SUBJECT/PROPOSAL/REQUEST: Work session on five-year financial plan
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Richardson, Birch, Bowman, Vinzant
PRESENTER (S): Bowman
LEGAL REVIEW: Not Required
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In accordance with the budget development schedule, the Board of Supervisors holds a series of work sessions in the fall to review long-range financial planning information prior to the annual budget process.
The first work session was held on November 17. During the November 17 work session, the Board of Supervisors reviewed and discussed information on five-year revenue projections and major expenditure assumptions.
STRATEGIC PLAN: Mission - To enhance the well-being and quality of life for all community members through the provision of the highest level of public service consistent with the prudent use of public funds.
DISCUSSION: Long-range financial planning is an important component of the County’s fiscal processes. It brings together the operating and capital components of the County’s budget development processes and provides a venue for discussion regarding important longer-term priorities and strategies. Additionally, the Five-Year Financial Plan creates a framework within which the next fiscal year’s budget development will take place.
During the December 15 work session, the Board will receive and discuss information on the Five-Year Financial Plan.
BUDGET IMPACT: Long-range financial planning connects long-range fiscal planning with strategic priorities and provides an important context for the annual budget process.
RECOMMENDATION:
Recommendation
Staff recommends that the Board of Supervisors discuss longer-term priorities and provide direction to staff that will inform the upcoming budget process.
ATTACHMENTS: None