The City of Greater Sudbury council has adopted a short-term and long-term financial plan to deal with this year's budget. The long-term financial plan will be developed to address the city's fiscal needs for the next 10 years.
City staff, along with outside experts, will develop the plan. Some items that will be covered include: property and business tax assessment bases, revenues, expenditures, tax policy, capital needs, financing, debt management, fiscal policy, special funds, property tax rates, departmental issues, financial indicators and risk analysis.
The city needs to focus on the long term so it not only survives from year to year, but also thrives well into the future and builds a sustainable community, a city official says.
The public will have an opportunity to voice their opinions about the plan, which is set to be completed by Oct. 24, 2002.
Budget deliberations will continue throughout the month of April, focusing on the current budget and capital. This year's budget is anticipated to be completed by April 22, 2002.