Laserfiche WebLink
ADDENDA <br /> <br />MONDAY,'NOVEMBER 28, 1988 <br /> <br /> Report of the Council Members <br /> <br /> The Committee on Efficiency in Governmen~ <br /> , of <br /> Martinsville City Council <br /> on <br /> Martinsville Five Year Financial ForeCast <br /> as originalIv presented by the <br /> City Administration <br /> on <br />November 2, 1988 and as Subsequently Revised <br /> <br /> First, we,would like to thank City Manager George <br />W, Brown.and the many other AdministrationandSchool Board <br />employees who contributed to the Five Year Financial <br />Forecast, In our opinion, this.Five Year Forecast is <br />extremely valuable tool as it will allow Council, for th~ <br />first time, we believe, to consider the philosophy underlying <br />the oDeration of City Government at a time when broad policy. <br />guidelines can be developed by Council to assist the City <br />Administration in the preparation of specific City Bu0gets <br />during the time frame covered by the Forecast, It is <br />important, we believe, that Council be able to consider these <br />principles of'policy at a time when the issues are not <br />clouded by the consideration of a multitude of line items <br />contained in a Budget as presented by the City AdminiStration <br />and/or the School Board, <br /> <br /> We believe that the financial situation envisioned <br />by the Five Year Forecast for the City at the end of the five <br />year period is totally unacceptable. With this belief in <br />mind. we have attempted to analyze the Five Ye!r Forecast <br />with the dual purposes of determining the causes for this <br />unaccemtable financial condition and recommending stsps <br />which can be taken.to prevent its occurrence. We have <br />focused mrimarilv on the situltion envisioned by the Forecast <br />for Fiscal Year 1987/1970 because we believe that the <br />'dramatic change in financial condition from the current <br />Fiscal Year to that Fiscal Year .".ontains the seeds o~ the <br />mroblems which the latter veers oo~ the Forecast merely <br />exacerbate, <br /> <br /> Initially, we deemed it appropriate to focus cn the <br />Revenue Projections for ~iscal Year 198~-1990 under the <br />General Fund to determine if they appeared appropriate as the <br />Forecast envisions an actual decline in General Fund Revenues <br />between FY88/89 and FY~9/90. <br /> <br />General Fund Revenues Fyc.~ ,c.A <br /> <br /> First, ~e noted an increase in Commonwealth <br />Categorical Revenue of $221.8.~1. or a healthy=-8.%?%.. Next ~e <br /> <br /> <br />