Summary
To: Finance Board
From: Town Staff
Date: 4/19/2018
______________________________________________________________________
Subject:
Title
Strategic Financial Plan Studies
Summary:
Over the past month, Town staff and Finance Board members have been evaluating how we calculate revenue and expenditure lines in our budget. Today’s packet contains information resulting from those studies and discussions, which the board will be reviewing at a high level at this meeting.
End
Body
Previous Commission Action: At its March meeting, several members of the Finance Board volunteered to help evaluate current assumption methodologies used for determining revenue and expenditure lines within the Town’s budget. Since this meeting, staff has met with these four individual Board members, assigned lines to them for review, and compiled this information for today’s discussion.
Background/Problem Discussion: In order to ensure more accurate estimations for budgetary line items in the Strategic Financial Plan, the Town needs a better understanding of how we estimate and distribute dollars for these items. By studying the assumptions that we commonly use, and evaluating other alternatives for that, the Finance Board will be able to help staff and the Commission better understand and better plan for future financial and budgetary needs.
Expenditure Challenges N/A
Financial Implications: N/A
Recommendation: N/A
Proposed Motion N/A