Township Issues Updated Long-Term Financial Plan
On December 21, the Township Council accepted the 2015 Long-Term Financial Plan and adopted the financial policies recommended in the plan. The long-term financial plan contains an historical trend analysis of the Township’s financial operations for the years between 2008 and 2014, along with projected operations for 2015 through 2020.
By analyzing past trends and extending those trends into the future, potential budget gaps and other issues are uncovered that may challenge the Township’s financial stability in the future. The purpose of the long-term plan is to identify these issues and propose strategies to enact now that will close any potential gaps in the future.
The 2015 plan also includes 54 proposed financial policies that are intended to incorporate long-term financial strategies into daily operations. These policies were adopted by the Township Council in their entirety.