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<br />vehicles and equipment as part of the Fleet and Non-Fleet plans, and the Pavement <br />Management plans. <br />• BS&A financial software system was purchased in 2015 and implemented in April of <br />2016. The new financial system will continue to require a significant effort during the <br />next couple of years. <br />• Financial sustainability has been identified as a priority of the City Council. Three <br />initiatives have been identified to help obtain this goal. These three initiatives have <br />different timeframes for completion but will occur to some extent during 2017. <br />o The first initiative is to review the City’s reserve balances, determine the long-term <br />financial plans as to purpose and projections, and to report on their status on a <br />periodic basis. <br />o The second initiative is to conduct a study of “non-tax” revenues to determine their <br />long-term sustainability. <br />o The third initiative is to implement a debt management plan, identifying both internal <br />and external factors affecting the City’s bond rating and to formalize the debt <br />issuance approach. <br /> <br />34