Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 67
Strategic → CiTy of eusTis long - range finanCial Plan
City of Eustis Long - Range Financial Plan
Long-range planning is an essential component of effective governance for a City. A Long-Range
Financial Plan (LRFP) gives the chance to conduct Strengths, Weaknesses, Opportunities and financial threats analysis. This critical planning exercise can help to evaluate potential opportunities and
risks - and operate more proactively and efficiently.
Long-term financial planning relates to strategic planning, developing financial policies, capital improvement planning, and budgeting. Each process fulfills a different combination of planning purposes.
The Long-Range Financial Plan (LRFP) covering Fiscal Year 2023-24 through Fiscal Year 2025-2028
presents projections for the City’s revenues, expenditures, and resulting fund balance for a comprehensive five-year planning period. It’s important to note that the LRFP does not aim to predict the
future with certainty, but rather to raise awareness about potential financial challenges and opportunities that the City may encounter. Long-range planning enables City officials to anticipate and
prepare for future challenges and opportunities, ensuring the sustainable growth and development
of the community.
Through financial planning and forecasting, the LRFP offers valuable insights into the City’s future
financial capacity. This enables the development of strategic approaches to achieve long-term
sustainability while considering the objectives of governmental services and addressing financial challenges. The LRFP acts as a tool to inform and guide the City’s decision-making processes
with regards to financial management and operational planning. Ultimately, long-range planning
empowers City leaders to create a vision for the future and work towards realizing it through strategic actions and collaborative efforts with stakeholders.
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City of Eustis, Florida
Adopted Budget
65
