Each year, Finance develops a Five Year Financial Forecast which evaluates the City’s future fiscal status prior to development of the annual budget. The forecast provides preliminary data which assists City staff and the City Council in making sound decisions regarding the annual budget. The Financial Forecast provides recommendations on how to plan thoughtfully and strategize. Council approves the budget strategy for the next year budget. The forecast is a tool which allows staff and Council to work together to fund programs deemed critical, and essential – programs that promote good governance, and maintain or enhance the City’s quality of life.