Multi-Year Financial Planning: Require the creation of multi-year financial plans that project revenues, expenses, and capital needs over a 5-10 year horizon. This helps the city anticipate future challenges and opportunities.

Reserve Fund Policy: Establish a reserve fund policy to build up financial reserves during surplus years, providing a buffer for economic downturns or unexpected expenses.

Zero-Based Budgeting: Implement a zero-based budgeting approach where all expenses must be justified for each new period, rather than simply adjusting previous budgets. This helps identify and eliminate inefficiencies.

Cost-Benefit Analysis for Projects: Require a thorough cost-benefit analysis for all new projects and programs, ensuring that long-term benefits outweigh initial costs. Prioritize projects that generate future revenue or reduce operational costs.

Asset Management and Maintenance Plans: Implement a proactive asset management strategy to maintain existing infrastructure and avoid costly repairs in the future. Prioritize investments in infrastructure that supports economic growth, such as transportation and utilities.

Business Incentives and Retention Programs: Create policies that support local businesses, such as tax incentives for startups, streamlined permitting processes, and business retention programs. Focus on sectors that align with the city’s long-term economic goals.

Public-Private Partnerships: Encourage partnerships between the city and private entities to develop projects that enhance infrastructure, provide services, or create jobs without fully relying on public funds.

Debt Ceiling Policy: Establish a debt ceiling that limits the amount of debt the city can incur relative to its revenue. This prevents the city from taking on unsustainable debt levels.

Debt Reduction Plan: Develop and enforce a plan to reduce existing debt through refinancing, early repayments, or setting aside surplus revenue for debt reduction.

Revenue Diversification Strategy: Develop policies that encourage diversification of revenue streams beyond traditional property taxes. This could include promoting mixed-use developments, expanding tourism, and exploring local business incentives.

Fiscal Transparency Initiatives: Mandate regular public reporting on the city’s financial status, including budget summaries, spending reports, and debt levels. Implement a user-friendly online portal where residents can track city finances.