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issues, such as floods and significant increases in construction and overall labor costs, and ensure that <br />the City's service levels are sustainable over the long run. <br />Long -Term Financial Plan <br />The base year for the long-term financial planning model is the Recommended 2019-2020 Biennial <br />Operating & Capital Budget. The model applies the 2021-2024 revenue assumptions, operating <br />expenditure targets, and the 2019-2024 Capital Improvements Plan to the base year of 2020 and <br />projects revenue, expenditures, and fund balances (or working capital for proprietary funds) for the <br />years 2021 through 2024. The following discussion summarizes the model's projections for the City's <br />main operating funds: <br />• General Fund; <br />• Open Space & Parks Fund; <br />• Recreation Fund; <br />• Capital Projects Fund; <br />• Utility Funds; and <br />• Golf Course Fund <br />General Fund <br />Incorporating the revenue assumptions, the operating expenditure targets, and the interfund transfer <br />projections into the long-term financial planning model results in the following graph, which summarizes <br />a history and six -year projection of revenue, expenditures, and fund balances for the General Fund. <br />=1,aoo <br />10 oo.auo <br />5,DDD.O 0 <br />General Fund <br />10013 2004 2010 2011 2011 2013 2014 2015 2016 2017 2018 2039 2020 2021 2022 2023 2024 <br />Revenue <br />- Expenditures 1- Fund Balance <br />;.Target Minimum <br />15 <br />