Indian Wells City Council
Goals for Fiscal Year 2015-17:
title
Create a Financial Strategy
recommendation
RECOMMENDED ACTION:
DISCUSSION and DIRECTION relating to this strategic goal.
body
Co-Champions: Kevin McCarthy, Finance Director
David Gassaway, Assistant to the City Manager
Desired Outcomes: Council and community have understanding of the City’s long-term financial position in order to identify the revenue necessary to maintain the high quality standards of Indian Wells.
Action Items Status
1. Prepare a comprehensive long-term expenditure analysis Attached
2. Prepare a comprehensive long-term revenue analysis Attached
3. Describe funding gaps Attached
4. Build strategies for funding gaps June 2016
DISCUSSION:
Staff analyzed all City expenditure and revenue growth trends going back to fiscal year 2006. A comparative study between revenue and expenditure growth trends provided assumptions to forecast the City’s fiscal future. The attached report (Attachment 1) details the revenue and expenditure gaps and presents two primary challenges the City will need to face in coming years: Public Safety Costs and the Indian Wells Golf Resort. Staff seeks Council discussion and direction to develop strategies to overcome those challenges.
Attachments:
1. Financial Gap Analysis
2. Strategic Goal 1