Included within the City of Shakopee's 2020 - 2024 Strategic Plan as part of the strategic priority of Financial Stability was the strategic initiative of developing a long-term financial plan.

As City Council, you play a key role in financial planning such as setting a service vision, adopting financial policies and keeping long-term financial sustainability at the forefront decisions.

Unlike the annual audit report and to a lesser extent the annual budget book, there is no set guidelines or template to follow when preparing a long-term financial plan.  There are few local governments that prepare and publish a long-term financial plan and those that were reviewed have varied processes and information included in those plans. 

There is value in going through the exercise and discussing the city finances from a wider perspective.  The long-term financial plan presentation will cover trend analysis and  General fund projections. This workshop will serve as a preliminary step in the annual budget and capital improvement planning processes before determining the annual needs of the city.