Long term financial planA special joint meeting of the Marshall County Council and Commissioners was held Wednesday morning in the County Building.  The work session was for the purpose of future budget planning and receiving information from Umbaugh & Associates on finance planning.

With declining revenues and tax caps have a significant impact on the budget and Todd Samuelson said the county has a greater need to anticipate and identify budget deficits and cash flow shortages.  He said, “Long term fiscal planning is key.”

The proposed 3 to 5 year financial plan would take into affect the other taxing units in the county because their budgets and capital project have an effect on the county’s spending.  It would provide a baseline for future financial operations.

Putting the plan together will require a completed road plan, bridge plan, a facilities review and a listing of anticipated capital projects.

Samuelson said cost for a financial plan will cost between $20,000 and $25,000 depending on the options selected.  He also estimated 90 days to complete.

Since this was a work session no action was taken.  Samuelson will be placed on the agenda for the next commissioners meeting.