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Item No. <br /> Staff Report No. Cn—X 99W-5 <br /> Meeting Date: March 17, 1997 <br /> Type of Business: WK <br /> WK: Work Session;PH:Public Hearing; <br /> CA: Consent Agenda;CB:Council Business <br /> City of Mounds View Staff Report <br /> To: Honorable Mayor and members of the City Council <br /> From: Bruce Kessel, Finance Director <br /> Item Title/Subject: Possible Ordinance adopting the 1996 Long Term Financial Plan <br /> Date of Report: March 13, 1997 <br /> The City Charter requires that a long term financial plan be adopted by the City Council by <br /> Ordinance. During 1996, the City Council held various meetings on the plan, and adopted the <br /> 1997 budget based upon information in the plan,however due to on oversight,the long term <br /> financial plan was not adopted by Ordinance. <br /> Attached is a copy of a draft Ordinance and the 1996 Long Term Financial Plan that has been <br /> modified to reflect adjustments that were made during the 1997 budget process. Within the next <br /> several months, it is anticipated that work will begin on the 1997 Long Term Financial Plan. <br /> If the Council feels that to meet the Charter requirements the Ordinance needs to be adopted, we <br /> • can place the first reading on the agenda for March 24th and the second reading for April 14th or <br /> make changes to reflect additional information or hearings that you feel are necessary. If on the <br /> other hand, the Council feels that due to the time frame that time and expense associated with the <br /> adoption of the Ordinance is not warranted,the Ordinance will not be finalized; we will, <br /> however,take the steps necessary to insure that this oversight does not occur in the future. <br /> ;. <br />