Adopted Budget Book FY 23-24 Final with TOC links - Flipbook - Page 70
Strategic → CiTy of eusTis long - range finanCial Plan
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Initiative Development & Operation
City long-range financial plan initiative development and operation involve the identification,
planning, implementation, and ongoing management of specific projects, programs, and activities looking at achieving the financial objectives outlined in the long-term financial plan.
Initiative development starts by identifying the key areas or opportunities for improvement
within the city’s financial framework. This may include revenue enhancement initiatives, costsaving measures, efficiency improvements, capital investments, debt management strategies,
or other financial interventions.
During the operation phase, the identified initiatives are put into action. This involves allocating
the necessary resources, such as funds, personnel, and technology, to execute the planned
activities. Clear communication channels and coordination mechanisms are established to
ensure smooth implementation and collaboration among different departments.
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Operation Monitoring
City long-range financial plan operating monitoring refers to the ongoing assessment and oversight of the financial activities and performance of the city to ensure adherence to the goals and
strategies outlined in the long-range financial plan.
Operating monitoring involves regular tracking and analysis of various financial indicators,
such as revenue generation, expenditure management, debt levels, cash flow, and financial
reserves. This allows city officials and finance departments to evaluate the effectiveness and
progress of the financial plan’s implementation.
During the monitoring process, financial data and reports are collected, reviewed, and
compared against predetermined targets and benchmarks. Key performance indicators are
established to measure the success and impact of the financial plan initiatives and to assess the
overall financial health of the city.
Figure 12:
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City of Eustis, Florida
Adopted Budget
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