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City finance consultants present 5-year forecast; VAR would preserve fund balance, no-new-revenue would deplete it
Summary
Consultants updated a 5-year financial model showing that adopting the voter-approval rate (VAR) keeps the city closer to policy fund-balance targets while the no-new-revenue rate would reduce working capital; consultant recommended blending approaches and further scenario work.
Plano’s finance consultant presented an updated five-year financial forecast and recommended council consider the tradeoffs between adopting a no-new-revenue rate and the voter-approval rate (VAR). Matthew Garrett of NewGen Strategies told council that under the current assumptions the no-new-revenue rate would produce roughly 2.2% annual revenue growth and would leave appropriations above projected revenues, gradually drawing down fund balance and putting the city below its 60-day working-capital target. By contrast, the VAR — shown in the model as producing about…
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