title
Consider/Discuss 10 year MCDC Revenue Forecast and Model
Summary
MEETING DATE: February 23, 2017
DEPARTMENT: Financial Services
CONTACT: Cindy Schneible, Executive Director MCDC
Mark Holloway, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
• None. Discussion item only.
ITEM SUMMARY:
• Financial Services in conjunction with the City Manager’s Office and MCDC has been working to develop a recommended 10 year MCDC Financial Model.
BACKGROUND INFORMATION:
• Throughout the last few months, staff has been meeting to discuss a long range financial plan and model.
• The goal was to develop a comprehensive model based on conservative growth assumptions that could be used to both identify current operational expenses and project how future projects will impact the MCDC.
FINANCIAL SUMMARY:
• Models are built with an assumption that a 2.06% Sales Tax growth rate will be maintained over the next 10 years.
• The Model is flexible and will allow for expense and revenue variables to be changed to view different scenarios.
BOARD OR COMMISSION RECOMMENDATION: N/A