AGENDA DATE: 11/13/2019
TITLE:
Title
Five-Year Financial Plan Work Session
BODY
SUBJECT/PROPOSAL/REQUEST: November 13 Joint Board of Supervisors/School Board Five-Year Financial Plan Work Session
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Richardson, Vinzant, Bowman, Allshouse, L., Letteri, Allshouse, S.
PRESENTER (S): Lori Allshouse, Rosalyn Schmitt, Steve Allshouse
LEGAL REVIEW: Not Required
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In November of each year, the Board of Supervisors and School Board meet to review long-range fiscal planning information together prior to the annual budget process.
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. It brings together three major components of the County's budget development processes: Schools, General Government and Capital. It also 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.
During this work session, the Boards will receive and discuss information on five-year revenue projections, the Capital Improvement Plan (CIP) Advisory Committee's recommendations for the FY 21- FY 25 CIP, major operational expenditure assumptions, and the School Division's five-year financial forecast.
In accordance with the budget development schedule, the Board of Supervisors will have two additional work sessions on December 4 and 18 to discuss the Five-Year Financial plan including the General Government operating budget and to provide annual budget development guidance to staff.
BUDGET IMPACT: Long-range financial planning connects long-range fiscal planning with strategic priorities and provides an important context for the...
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