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At the Tuesday, May 19 City Council meeting, Council received a presentation about transitioning the City’s focus on the Strategic Plan to fulfilling the top priority of the Plan. The top priority of the Plan is to develop strategies to secure the financial health and long-term sustainability of the City.
The top strategy was identified during the community input phase during January to March 2020. Securing the financial health and long-term sustainability of the City includes building fiscal reserves and rightsizing the City’s budget. The City was well on its way to meet that goal for this fiscal year before the emergence of the COVID-19 pandemic. COVID-19 and the subsequent loss of revenues made an already challenging budget situation even more severe, due to the City’s lack of reserves. The City is now faced with an expanded budget gap and is planning for additional reductions.
On Tuesday night, the City Council heard short-term and long-term budget strategies to meet the top priority. Those strategies include adopting Priority Based Budgeting in the long-term.
To better understand the Fiscal Response Plan, please review the May 19 City Council HERE. The presentation begins at 3:30:30 (3 hours, 30 minutes, 30 seconds). The Strategic Plan to Fiscal Response Plan PowerPoint presentation is available HERE. Additionally, there will be a Budget Workshop for the Council and public on Tuesday, June 9, 2020 at 1:00 p.m. Please visit the City Council webpage for Council Meeting Videos & Materials.