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The Cities of Brooklyn Park and Eden Prairie provided some feedback on the pros and cons of doing a <br /> multi-year budget and below is the summarized responses: <br /> Pros. <br /> • Staff time savings as the GFOA budget award document is compiled every other year. <br /> • Helps with long term planning,looking out two years instead of one. <br /> • Brings multi-year plans into goals and the budget document. <br /> • Can concentrate on strategic planning and the CIP in the off year. <br /> • Can move expenses between years to accomplish goals or moderate cost increases in a particular <br /> year. <br /> • Council can discuss timing on personal and service levels over multi-years. <br /> • Strong support from bond rating companies. <br /> Cons. <br /> • Developing reasonable assumptions for the forecast years (being conservative with forecasts). <br /> • Continued education during the first years of implementation. <br /> • Having all departments think far ahead about personnel and technology (we already do this). <br /> • Still need to complete the final process every year due to requirement to set levy and budget <br /> annually. <br /> • If economic circumstances change,more substantial budget work could be needed in off year. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ 2015 Budget schedule <br />