Multi-Year Financial Plan

The City of Dickinson’s first Multi-Year Financial Plan (“MYFP”) was completed in Janaury 2015. It is the culmination of over 3 years of Staff and City Council work and represents a road map to the City maintaining a strong and healthy financial position.

The MYFP includes forecasts and financial management plans for the major funds of the City, including the General Fund, Debt Service Fund, Municipal Drainage Utility Fund, and the Street Maintenance Sales Tax Fund.  Each section includes factors and policies used to develop the forecast and the assumptions made to represent future financial conditions.

During multiple City Council Workshops, policy decisions were made on how to handle varying financial circumstances. Those policies were incorporated into the applicable sections.

The goal of the MYFP is to provide a framework for future financial decisions and assist the City in maintaining its fiscal stability. By addressing the major funds and financial issues, the MYFP will be a useful tool during the budgeting process and can guide the Council in long-range planning discussions.

In the future, the MYFP will be updated as new information becomes available or as circumstances and/or operational needs change. It is encouraged that the MYFP be reviewed and updated annually either concurrently with or immediately following the annual budget process.