FY 2025 BUDGET BOOK - Flipbook - Page 62
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saving measures, efficiency improvements, capital investments, debt management strategies
or other financial considerations.
During the operation phase, the identified initiatives are implemented. This involves
allocating the necessary resources, such as funds, personnel and technology, to execute the
planned activities. Clear communication channels and coordination are established to ensure
smooth implementation and collaboration among different departments.
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Operations Monitoring
The City’s long-range financial plan’s operations monitoring refers to the ongoing assessment
and over-sight of the financial activities and performance of the City to ensure adherence to
the goals and strategies outlined in the long-range financial plan.
Operations monitoring involves regular tracking and analysis of various financial indicators,
such as revenue generation, expenditure management, debt levels, cash flow, and financial
reserves. This allows City officials to evaluate the effectiveness and progress of the longrange financial plan.
During the monitoring process, financial data and reports are collected, reviewed and
compared to predetermined targets and benchmarks. Key performance indicators are
established to measure the success of the financial plan initiatives and to assess the overall
financial health of the City.
Figure 12:
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