Long Term Financial Plan Underway
As part of our commitment to good governance, Guelph City Council met last night to learn more about the City’s Long Term Financial Plan and a new tool that will help prioritize capital projects, both of which will strengthen strategic and fiscal management for the City.
Guelph’s Long Term Financial Plan is a new approach to prioritizing capital projects and is intended to help the City set long-term priorities based on the community’s vision and strategic goals. To do that, Finance staff have developed a tool to help manage a balanced and integrated capital plan designed to balance the City’s need to repair and replace existing infrastructure, while continuing to fund capital projects that maximize residents’ quality of life and Guelph’s economic growth potential.
Both the Long Term Financial Plan and the City’s Capital Plan will help ensure affordability whereby costs and benefits are shared between existing and future ratepayers; help the City maintain existing infrastructure and afford new infrastructure to support new growth and economic development; address community health and safety, and environmental risks; and implement strategic initiatives and community priorities.