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ITEM: WELLINGTON FISCAL YEAR 2026/2027 LONG RANGE FINANCIAL PLAN
REQUEST: Wellington staff will present the Fiscal Year 2026/2027 Long Range Financial Plan.
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EXPLANATION: We present the updated Long Range Financial Plan each year to help with the budget process. The analyses, forecasts, plans and studies, and policies we consider in preparing the Long Range Financial Plan are outlined the document. The Financial Condition Assessment summarizes various financial conditions that are part of the annual audit. Overall, we are in very good financial condition. Yes, there are some specific indicators that reflect potential trends we will specifically watch.
Given this information, we present the Recommendations as part of the Long Range Financial plan. We also include the 5 Year Forecast of Revenues and Expenditures for the General Fund and we summarize the assumptions and projections used to prepare that. And, YES, these assumptions WILL change. We take a very conservative approach in our assumptions and projections in order to give you the most flexibility to address "things" that come up.
The Long-Range Financial Plan also considers our other funds. We are working to manage challenges in the Utility Fund with funding in the form of very low-interest loans and grant funding through the State Revolving Loan Fund. Currently, the Meter Replacement Project will start this summer. We are also working to prepare a grant application for funding of the Membrane Replacement Project which is in progress and address the EPA's newly created standards for drinking water PFAS (polyfluoroalkyl substances).
The proposed Fiscal Year 2026/2027 Solid Waste Fund includes the proposed rates for curbside and containerized. The good news is that the annual increase remains low and is projected to remain consistent or lower than the annual contract increases for these services. Overall, the Solid Waste rate increases cover the annual contract increases wh...
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