Strategic → CiTy of eusTis shorT - Term finanCial PlanCity of Eustis Short - Term Financial PlanShort-term financial planning is a critical aspect of managing the finances of a City. It involves carefully analyzing and allocating resources over a relatively short time frame, typically covering oneto three years. Effective short-term financial planning helps ensure that a City can meet its immediate financial obligations, maintain essential services, and respond to unforeseen challenges oropportunities.Following are key elements and considerations in a City’s short-term financial planning:●●●●●Budgeting: The cornerstone of short-term financial planning is the city budget. The budgetoutlines the expected revenues and expenses for the upcoming fiscal year. This processinvolves estimating tax revenue, grants, fees, and other income sources and projecting expenditures for various City departments and services. The budget is realistic and aligns with theCity’s strategic priorities.Cash Flow Management: The City manages its cash flow effectively to cover day-to-dayexpenses, such as payroll, utilities, and debt service. A cash flow analysis helps identify periodsof surplus and potential shortfalls, allowing the City to appropriately adjust its spending orinvest excess funds.Emergency Funds: Short-term financial planning includes provisions for contingencies. Thesefunds are set aside to address unforeseen events, such as natural disasters, economic downturns, or public health crises. Having reserves can help the city respond promptly and maintaincritical services without resorting to drastic measures like layoffs or service cuts.Revenue Diversification: Short-term planning involves diversifying revenue streams, suchas increasing fees for certain services, pursuing grants, or implementing new taxes or usercharges while considering the impact on residents and businesses.Cost Control: Short-term planning involves identifying areas where cost savings can be realizedwithout sacrificing service quality. This can include renegotiating contracts, optimizing staffinglevels, and exploring opportunities for shared services with neighboring municipalities.Back to TOCCity of Eustis, FloridaAdopted Budget63
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