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Agenda Section: 10, 7:05p.m _H REQUEST FOR COUNCIL CONSIDERATION Report Number: 95-1411C STAFF REPORT Report Date: 7-13-95 �' Council Action: July 17, 1995 ❑ Special Order of Business CITY COUNCIL MEETING DATE Public Hearings ❑ Consent Agenda 0 Council Business Item Description: To Consider Introduction of Ordinance No. 566 1995 Long Term Financial Plan Administrator's Review/Recommendation: - No comments to supplement this report - Comments attached. Explanatinn/Summ ent—sheet-s as necessar SUMMARY; The 1995 Long Term Financial Plan is presented herein for its formal introduction as Ordinance No. 566 . Perhaps what is the most notable aspect of the LTFP is the sharp decrease in Capital Equipment expenditures for 1996 . This is due to the Council's desire to maintain a zero levy increase for 1996. In order to adequately fund operational costs for 1996, capital equipment and project costs that utilize General Fund revenues were kept to a minimum - decrease of over $200,000 from 1995. The Plan does not provide for staffing increases for 1996 . Future years include replacement of vacant positions and additions if service levels are maintained or increased - this, of course, will be revenue driven and greatly dependent on the City's revenue stream from all sources, including LGA, HACA, taxes and, most notably, Fiscal Disparity. An enhanced feature of the LTFP is the Capital Improvement Plan which includes itemized listings of projected capital equipment needs for years 1996-2000 and capital improvement projects. The projects are listed as part of the long range project plans and reflect proposed projects which, once again, are revenue dependent. Many of the projects are not General Fund (property tax) dependent, but draw from a variety of sources such as grants-in-aid, enterpris0 funds (golf course, recreation activity ftnd, water, wastewater, street] lig utility ) and franchise fees. Samantha rduno, City Administrator 1 1 RECOMMENDATION; l 1