Ensure Efficient Resource Allocation
- Data-Driven Decision Making: Use data analytics and performance metrics to identify areas where resources can be optimized, ensuring funds are directed to high-priority projects and used in the most efficient manner.
- Cost-Benefit Analysis: Conduct thorough analyses before launching projects to ensure they provide value and long-term benefits to the community.
- Prioritize Essential Services: Focus on core services like public safety, infrastructure, and health, while seeking out cost-sharing or partnerships for other services.
Effectively Management Reserve Funds
- Regular Contributions: Ensure steady contributions to reserves, especially during surplus years, to build financial resilience.
- Risk Assessment: Conduct ongoing risk assessments to determine appropriate reserve levels based on potential liabilities, emergency needs, and economic conditions.
Long-Term Planning
- Capital Improvement Plans: Create a long-term capital improvement plan (CIP) to ensure sustainable investment in infrastructure, facilities, and other major projects.
- Future-Proofing: Incorporate future trends like population growth, climate change, and technological advancements into planning to ensure fiscal sustainability over time.