Summary
To: Finance Board
From: Stefan Massol, Director of Support Services
Date: 1/16/2020
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Subject:
Title
Five-Year Financial Forecast FYE 2021-2025
Summary:
Staff will present the preliminary assumptions for this year’s Five-Year Financial Forecast of revenues, expenditures and fund balances.
End
Body
Background/Problem Discussion: Each year the Town of Belleair uses trend analysis to project revenues, expenditures and fund balances over the upcoming five-year timeframe. The forecast informs the budgeting process for the upcoming fiscal year and assist the Town in developing a financial strategy for the years ahead.
Enclosed is an overview of projections from the prior fiscal year. Additionally, there is a summary included of the assumptions methodology from recent years.
Staff’s intent is to present the forecasts for Water, Solid Waste and Wastewater funds in February. The forecasts for General Fund, Local Option Gas Tax Fund, Capital Equipment Replacement Fund and Capital Projects Fund would be included with the March meeting agenda.
Rather than significantly overhaul the forecasting methodology, staff is recommending a continuation of the existing assumption methods, with fine-tuning for known expenses in the upcoming year. With the board’s acceptance of this approach, staff will prepare the forecast as outlined.
Recommendation: This item is for discussion purposes.