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NYS Comptroller


The Academy for New York State's Local Officials

Multiyear Financial Planning: A Tutorial for Local Government Officials

Module 1: Elements of a Successful Plan

The Process of Multiyear Financial Planning

There are several steps that will help you get organized for creating a multiyear financial plan:

STEP 1: Gather financial data from recent years to gain perspective on revenue and expenditure trends and average annual rates of change.

  • Most long-range financial plans are based on three or four years of actual data for each category being projected, including the most recent year for which data are available. This information may be obtained from your financial accounting system or audited financial reports, or from the Comptroller's office, which collects local government data annually. In the case of major revenues, such as property and sales taxes, a longer trendline is often useful to get a sense of patterns during different economic conditions.
  • You will need to gather current year estimates, using information from your annual budget or midyear updates.
  • You will also need to get any projections available for the upcoming budget year.

Multiyear Financial Planning Suggested Resources

  Next: Step 2 - Decide on a Timeframe