Long Term Financial Plan Services

The vendor is required to provide municipalities have developed long-term financial plans (ltfp) in order to assist in balancing the fiscal pressures of maintaining aging infrastructure while at the same time servicing future growth.
- Provide to review and update long-term financial objectives and policies, review existing financial targets and measures, and develop forecasting strategies to demonstrate the overall impact of current and future decisions.
- The work will comprehensively examine all of the municipality’s capital and operating expenditures/revenues, and address in detail issues related to asset management (linear and other), adequacy of reserves, debt management, property tax, utility rates, type and levels of service (LOS) and future growth.
- By developing new objectives, policies, targets, and a long-term financial planning model that integrates both capital and operating resources, and the city’s strategic plan, it will guide the corporation in achieving financial sustainability.
- Identify and assess the corporation’s financial condition which includes, but is not limited to, annual revenue, expenditure and debt trends, in total and for each of the ten (10) years covered by the LTFP.
- Review and analyze existing infrastructure repair and replacement requirements over the 2026 to 2035 period and comment on adequacy and appropriateness of existing funding policies.
- Review and analyze existing reserve and reserve funds and develop strategies to achieve adequate fund balances.
- Recommend key financial performance indicators and targets which can be used as a basis for measuring and achieving the corporation’s long-term financial objectives.
- Review existing financial policies/plans and recommend updated/new policies to achieve sound financial management.
- Capital planning: establishing principles for prioritizing and funding capital projects in alignment with long-term service goals and asset management strategies.
• Debt management: defining prudent debt limits, repayment strategies, and conditions for debt issuance to ensure long-term affordability and sustainability.
• Reserves and reserve funds: setting targets and usage guidelines to ensure adequate financial flexibility and risk mitigation.
• Investments: updating investment policies to reflect current market conditions, risk tolerance, and legislative requirements, while maximizing returns within acceptable risk parameters.
• Cash flow management: developing policies to monitor, forecast, and manage cash flow to ensure liquidity, support operational needs, and optimize short-term investment opportunities.
• Conduct a comprehensive review of the municipality’s current budgeting practices. 
• Evaluate the potential benefits and challenges associated with implementing a multi-year budgeting framework. 
• Provide a comparative analysis of multi-year budgeting models used by similar municipalities. 
• Assess the financial, operational, and strategic implications of transitioning to a multi-year budget cycle.
• Incorporate “what if” sensitivity and financial impact analysis, 
• Built-in flexibility to accommodate organizational, departmental and line-item changes, 
• Develop a report system based on model information that will illustrate the City’s financial position plus future cost impacts of maintaining current and future services and infrastructure over the period 2026 to 2035, 
• Develop a concise/visual report card to track progress.
- Questions/Inquires Deadline: July 9, 2025