Long-Term Plan

During 2021, the City of Salida worked with its municipal advisors Ehlers, Inc. to update the City’s Financial Management Plan (FMP). The purpose of the FMP is to create a multi-year financial plan for the City and its major funds, develop an inventory of future capital needs, and determine existing financial resources and plan for funding options to accomplish the short and long-term capital needs of the City. Although the City each year looks forward during the strategic planning process to identify long-term goals; periodically it is the practice to enlist the help of a neutral third-party consultant to evaluate finances and provide further assurance that the City is on track for meeting its long term needs.

The plan developed is extensive and looks forward yearly to 2032. Tax revenue is assumed to increase 3% per year, as are operating expenses. Most other (non-tax) revenues are anticipated to increase by 1% per year. Salida is in a growth stage and additional sales tax related to growth is also anticipated.

Generally, finances of the City are deemed to be in good shape. The need for capital improvement spending is outpacing resources so recommended borrowings are anticipated in 2023, 2027 and 2029.

Capital Improvement Fund Long-Term Outlook

A summary of the major projects and debt issuance recommendations are shown below:

LTP Table

If the reader of this document is interested in reviewing the full plan, clicking the above chart will download a PDF file of the plan.

It should be noted that when this plan was developed, a long anticipated project to add soaking pools adjacent to the Aquatic Center was anticipated to be budgeted and completed in 2022. However, bids submitted were much higher than anticipated so this project has gone back to the planning stage and is anticipated to be added back to the project list in the future. The above table in not impacted by that 2022 budget decision.