County Council looks at long term financial planning

financial-planning

The Knox County Council plans to do some long range financial planning to ensure money is available to meet the future needs of county government.

Council President Bob Lechner says that with tax caps limiting the amount of revenue local units of government are allowed to raise, it’s important that they identify funding gaps and develop contingency plans.

Council heard a presentation last night from Matt Eckerly with H.J. Umbaugh and Associates about the advantages of long term financial planning. Eckerly says the plan is intended to look at the county’s strengths and weaknesses and to maximize its current resources.

Umbaugh would work with the County Auditor and Treasurer’s offices to get a snap shot of the county’s finances and make some recommendations for investment and other areas where some belt tightening might be needed.

Eckerly presented a contract to the council for their services, but no action was taken during last night’s meeting.