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FC#~.~ <br />DEVELOPMENT OF LONG-TERM BUDGET WITH FOCUS ON PARK, ROAD AND TRAIL <br />MAINTENANCE <br />By: Diana Lund, Finance Officer <br />Background: <br />The city council adopted the 2010 Strategic Goals at its regular meeting of March 23, 2010. <br />Included under Strategic Goal #4: Budget/Finance was the development of a long-term budget with the <br />focus being on road maintenance, park maintenance, and trail creation/maintenance. A twenty-year <br />time frame was listed, but staff would like direction as to whether a five, ten-year time table would be <br />more beneficial to begin with. <br />Funding Source: <br />None required. <br />Committee Action: <br />Direction to staff of desired time frame for budget document pertaining to a long-term budget for <br />street, park, and trail maintenance. Is preference a 5-year, 10-year, 15-year or 20-year document? <br />Staff would recommend preparation of a 5-year plan to allow caputer of the impacts of a "normal <br />business" cycle and related impacts to tax capacity. In addition, staff would also recommend a 20-year <br />plan to address long-term capital expansion and replacement and the associated impacts to operating <br />costs. <br />Reviewed By: <br />City Administrator: <br />Finance Officer <br />FC: 4/13/10 <br />