Summary
To: Finance Board
From: Stefan Massol, Director of Support Services
Date: 1/17/2019
______________________________________________________________________
Subject:
Title
General discussion of Strategic Financial Plan
Summary:
Staff will provide an overview of the process from the previous year and requests input from the Finance Board on the level of detail desired for the upcoming year.
End
Body
Background/Problem Discussion: In the prior year, the Finance Board worked closely with Town Staff to provide a detailed review of assumptions used for the Strategic Financial Plan, which is the forecast of Revenues, Expenditures and Fund Balance for the various funds of the Town of Belleair. Last year was also the first year for the town’s new method of budgeting, based on programs in each town department.
Staff would like to provide a forecast in the upcoming year that is based on assumptions developed in the prior year. Those assumptions would still be based on the individual line items that may have differing methodologies, and would be subject to Finance Board approval before the final presentation is compiled. Our hope would be to have those assumptions available for discussion at a meeting in March, along with the revenue guide. At the following meeting in April, staff would like to provide a presentation, focused at the programmatic level for each department, that shows a forecast of Revenues, Expenditures, and Fund Balance.
Financial Implications: N/A.
Recommendation: This item is for discussion purposes only.
Proposed Motion: N/A.