The Adopted Budget for Fiscal Year 2014 totals $571.8 million, a 1.6% increase from current FY 2013, and includes funding for 2.9% additional employees than in FY 2013 (21.9% fewer than in FY 2008).
Multi-Year Financial Plan & Capital Improvement Plan
Mayor Domenic J. Sarno and Acting Chief Administrative and Financial
Officer TJ Plante released the City of Springfield’s Multi-Year Financial Plan (FY14-FY17) and the City’s Five Year Capital Improvement Plan (FY14-FY18). The City of Springfield is governed by strict financial policies
adopted as ordinances in September of 2009. Section 4.44.020 (G) stipulates that:
“The chief administrative and financial officer shall produce and issue a four (4) year financial plan for the city by March 30th of each year. Said plan shall be comprised of reasonable revenue estimates and all expenditures the city may reasonably experience during said period. All assumptions contained in the forecasts shall be clearly presented within the forecast document.”