What are the benefits of multi-year budgeting?

  • Enables Council to implement a multi-year vision, focusing on achieving longer term plans.
  • Allows the City to better anticipate longer-term financial needs and allocate resources accordingly.
  • Makes it easier for residents to see how the City is planning to allocate resources over the long term and anticipate future direction of taxes.
  • More efficient use of time and resources as the organization is not constantly preparing budgets.
  • Procurements can be planned farther in advance and create more stable, longer-term contracts.