Financial Sustainability
Maintain a fiscally solvent local government with diverse revenue streams for long-term financial health.
Financial Sustainability
Maintain a fiscally solvent local government with diverse revenue streams for long-term financial health.
D1.1 Capture more transient occupancy tax-based revenue by continuing to recruit a hotel, exploring feasibility of other boutique hotel development and AirBnB host options.
D1.2 Continue to look and apply for new funding opportunities from diverse sources, especially those that supplement existing federal funding streams (e.g. regional, state, philanthropy).
D1.3 Foster partnerships with relevant philanthropic organizations and other funding institutions to stay updated on upcoming funding opportunities.
D2.1 Assess current internal financial policies and processes to ensure alignment with best practices, making adjustments where needed.
D2.2 Inform the community about the City’s finances and budget on a regular basis to maintain transparency, exploring diverse avenues to share about the City’s finances (e.g. annual e-blast newsletter, webinar).
D2.3 Identify and pursue opportunities that optimize cost-savings for city services (e.g. reviewing and editing procurement policies).
D2.4 Prepare for growing energy demand and costs by updating internal sustainability-based practices to adopt more green energy usage where possible (e.g. City’s vehicles and infrastructure to run on green energy alternatives).
D2.5 Monitor and track grant funding-based spending to ensure internal compliance with reporting requirements.