Plano staff and consultants present five-year financial forecast; model flags days-of-fund balance pressure

Summary

Consultants from NewGen and city budget staff presented a five-year forecast that shows Plano's general fund days-of-working-capital falling below the new 60-day policy under a no-new-revenue property-tax scenario; a voter-approval tax path plus a contingent sales-tax appropriation would sustain balances in the model.

City budget staff and outside consultants on March 25 presented a five-year financial forecast that projects pressure on the general fund under a continuation-of-services scenario and recommends monitoring property-tax, sales-tax and fees as primary levers.

Karen Rudz Whitley, the city's budget director, said the city revised its cost-recovery and fee-study policy and identified revenue changes already approved in the consent agenda: updated ambulance fees are expected to yield about $650,000 in the current year and $1.6 million the following year. She said sales-tax receipts were trending above prior 3-year averages, with a roughly $5 million year-to-date gain compared with the three-year baseline.

Consultants from NewGen Strategies and Solutions led the presentation of a five-year forecast and a new budgeting tool. Matthew Garrett said the model starts with the fiscal 2025 budget as a base and applies inflation and revenue assumptions; it is intended to be updated frequently by staff. "This engagement wasn't because you were…

Plano staff and consultants present five-year financial forecast; model flags days-of-fund balance pressure

Summary

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