Long Term Financial Planning

Over the past few years, the Tahoe City Public Utility District has undergone significant changes in operations which have substantial and foreseeable financial impacts. The District Board of Directors responded in August 2018 by announcing its intent to develop and implement Long-Term Financial Planning (LTFP) through a process that emphasizes transparency, accountability and feasibility.

 

The LTFP will culminate in a Strategic Document that ensures the District is financially prepared to fulfill our Mission, accomplish our Strategic Initiatives identified in the 2016-2019 Strategic Plan, and develop a strategy to secure our financial sustainability into the future.  The District has retained HDR Engineering, Inc. (HDR) to facilitate the LTFP process which includes developing a long-term service vision, updating and crafting financial policies, improving a financial forecasting model.

 

According to the Government Finance Officers Association (GFOA), a Long-Term Financial Plan is:

 

  • A combination of technical analysis and strategizing. Long-term forecasts and analysis are used to identify long-term imbalances. Then, financial strategies are developed to counteract these imbalances.
  • A collaborative and visionary process. A plan does not just forecast the status quo into the future. It considers different possible futures. It also involves other stakeholders. Elected officials, operating departments, and the public can all help identify financial issues, develop consensus driven strategies, and ensure successful implementation.
  • An anchor of financial sustainability. A plan develops big-picture and long-term thinking transparency and financial resources among elected and appointed officials.

 

 

Projected for completion in August 2019, the planning process will include a series of public Board meetings and presentations to help understand the District's current financial position, capital infrastructure needs, project commitments and goals, and existing financial policies.

 

Interested in more information on the Long Term Financial Planning process? Please contact Stacie Lyans, Community Engagement Analyst at 530.580.6057 or slyans@tcpud.org.