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.