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equipment replacement planning, and energy costs. Planning for long -term capital outlay <br />is continued throughout the term of the plan. <br />It must be recognized and reiterated that this is a financial plan, not a budget, and it does <br />not constitute authorization for future spending. The city budget will continue to be <br />prepared annually, and current needs will continue to be presented to Council on an <br />annual basis. While it is the Council and staff intention to be fiscally responsible, it is <br />possible that future budgetary needs may differ from what is outlined in the draft five - <br />year plan, resulting in a tax rate higher or lower than anticipated in the plan. Likewise, <br />the five -year plan will be updated each year and city needs reassessed at the time of <br />renewal. <br />In reviewing this draft plan on Monday night, staff is seeking direction from the City <br />Council in its vision for the future of the city and how it will be managed financially. A <br />review of service policies and priorities will be necessary to obtain direction of preparing <br />the final draft of this plan. It is anticipated that this discussion will naturally evolve into <br />Council's discussion of a facilitator for strategic /organizational/budgetary planning <br />session. <br />• <br />• <br />• <br />