AGENDA DATE: 12/2/2015
TITLE:
Title
Five Year Financial Plan Work Session
BODY
SUBJECT/PROPOSAL/REQUEST: Work session to discuss policies and practices that could positively impact the County's long-range financial outlook
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Foley, Letteri, Davis, Allshouse, Catlin
PRESENTER (S): Bill Letteri, Lee Catlin
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: On September 9, 2015, the Board of Supervisors and the School Board received initial information on the County's FY 17 - FY 21 Financial Plan. On November 11, the Boards received updates to the Plan, which included information on major expenditure and revenue assumptions, and they further discussed Compensation and Benefits information, as well as initial information pertaining to the FY 17 - FY 21 Capital Improvement Program. The Boards also began a discussion around the recommendations set forth in Citizens Resource Advisory Committee Report. See Attachment A for November 11th Work Session Executive Summary and attachments.
STRATEGIC PLAN: To enhance the well-being and quality of life for all citizens 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 as it provides a venue for discussion regarding important longer-term priorities and creates a framework within which the next fiscal year's budget development will take place. The focus of the December 2, 2015 work session is to further discuss the policy recommendations provided by the Citizen's Resource Advisory Committee discussion and to review and discuss the Joint General Government and School Division's Efficiency Team's recommendations.
BUDGET IMPACT: There is no direct budget impact; however, the results of this work session could positively impact the County's long-range financial outlook.
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