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• Forecast is not Fate <br />Data collection in ongoing, and new information may indicate a more (or less) <br />favorable outcome <br />City will undertake actions that reduce expenditures or increase revenues, that <br />will change the course of the forecast <br />• City not limited to these nine scenarios <br />Assumptions can be mixed and matched among scenarios, and new assumptions <br />can be created <br />- A consensus baseline forecast should be adopted, with the assumptions the City <br />deems most appropriate <br />• Fiscal model is a valuable budgeting tool <br />Include forecast in the two-year budget <br />Use it to develop and track implementation of sustainable budget strategies <br />• Phase I — Develop Budget Model <br />Jan 28: Presentation to Council <br />Feb 2: Council Study Session on Forecast, hands-on with the <br />fiscal model <br />• Phase II — Develop Action Plan <br />IV <br />ext Ste <br />