HomeMy WebLinkAboutRes 2026-006 RESOLUTION NO. 2026-006
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT, CALIFORNIA, ESTABLISHING A LONG-TERM FINANCIAL
PLANNING POLICY
WHEREAS, the Charter of the City of Palm Desert provides that the City
Administrator shall propose budget recommendations for the next fiscal year under the
direction of the Mayor and the City Council in the form, in the manner , and at a time as
the Council shall prescribe by resolution; and
WHEREAS, the City desires to formalize its current long-term planning procedures
and policies; and
WHEREAS, the City's Adopted Budget and Capital Improvement Program plan
designates how all revenues shall be allocated among operations and long-term projects,
replacement costs, and facilities; and
WHEREAS, the City desires to establish a formal long-term planning policy to meet
best practices, support fiscal transparency, and maintain fiscal responsibility; and
WHEREAS the City Council has been presented with a draft Long Term Financial
Planning Policy in the form attached to this Resolution as Exhibit “A” and by this reference
incorporated herein.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM DESERT
DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
SECTION 1. The foregoing recitals are true and correct and are incorporated
herein by this reference.
SECTION 2. The City Council hereby adopts the Long-Term Financial Planning
Policy, attached hereto as Exhibit A.
SECTION 3. The City Manager is authorized to implement, administer, and
periodically review and update the Long-Term Financial Planning Policy, consistent with
applicable law and City policy.
SECTION 4. The Long-Term Financial Planning Policy shall be incorporated into
the City’s Administrative Procedures as Policy No. FIN-016.
SECTION 5. This Resolution shall take effect immediately upon adoption.
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Resolution 2026-006 Page 2
ADOPTED ON JANUARY 22, 2026.
EVAN TRUBEE
MAYOR
ATTEST:
ANTHONY J. MEJIA
CITY CLERK
I, Anthony J. Mejia, City Clerk of the City of Palm Desert, hereby certify that
Resolution No. 2026-006 is a full, true, and correct copy, and was duly adopted at a
regular meeting of the City Council of the City of Palm Desert on January 22, 2026, by
the following vote:
AYES: HARNIK, NESTANDE, PRADETTO, QUINTANILLA, AND TRUBEE
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
RECUSED: NONE
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of Palm Desert, California, on _________________.
ANTHONY J. MEJIA
CITY CLERK
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1/23/2026
Resolution 2026-006 Page 3
EXHIBIT A
ADMINISTRATIVE POLICY NO. FIN-016
“LONG TERM FINANCIAL PLANNING POLICY”
CITY OF PALM DESERT
ADMINISTRATIVE PROCEDURES
Subject Long Term Financial Planning Policy
Policy No. FIN – 016
Date Issued: January 22, 2026
Approved by Resolution No. 2026-006 Authorizing a
Long-Term Financial Planning Policy
Authored by Finance Department
I.PURPOSE
The Government Finance Officers Association (GFOA) recommends that governments adopt a
long-term financial plan of at least five years into the future. A long-term financial planning policy
is intended to assist City leaders (elected officials and City management) in making prudent and
informed financial decisions regarding economic development, tax policy and labor negotiations.
Credit rating agencies enco urage long-term financial planning and generally favor government
entities with such plans when assigning bond ratings.
II.POLICY:
The City shall adopt a long -term financial plan spanning at least five years for all major City
funds (e.g., General, Fire, Housing Authority, Desert Willow, etc.) in conjunction with the
proposed annual budget. The long -term financial plan should incorporate the following
elements as relevant and appropriate:
• An analysis of economic and demographic data at the national, state and local level;
• Past revenue and expenditure trends;
• Forecast assumptions;
• Forecasts of major revenues and expenditures based on known data, documented
assumptions, and input from subject matter experts, and various internal and external
stakeholders; and
• Compliance with existing City fiscal policies.
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