Lansford Borough Council last week selected a consultant to perform a five-year financial plan for the borough through the state’s Strategic Management Planning Program.

The state Department of Community and Economic Development offers a 50/50 matching grant up to $200,000 to cover the cost of a consultant to for the program.

The borough’s match, or share in the cost of the plan, could be reduced based on financial hardship and Lansford intends to submit a letter of financial hardship to state.

Council members reviewed different proposals and narrowed down the choices to two firms, Kafferlin Strategies of $79,550 and Herbert Rowland and Grube Inc. (HRG) at $76,630.

Council approved Kafferlin Strategies, which was the committee’s recommendation, as the firm it will use in its grant application for the program.

The borough had planned to submit the application in late September, but the deadline had been pushed back due the state budget impasse to Dec. 4.

According to the borough’s RFP, the consultant will perform a financial condition assessment, establishing a baseline by reviewing all of the borough’s funds and financial data for the past four years.

The assessment will also include a financial trend analysis, which will project future revenue, expenditures, economic and demographic trends for at least three years to allow the borough to understand its financial position and counteract negative trends.

The borough will also perform a management audit of all its departments and operations with assistance from the consultant.

The audit will provide a view of the borough’s most critical operational needs and recommend structure, command, scheduling and staffing to address deficiencies.

The borough is specifically requesting a review of its investments, employee work agreements, police contract, street department employee contract, accounting software program, health care costs and borough ordinances seeking more business-friendly rules, the RFP said

Also sought are long and short-term investment opportunities for income and working capital, opportunities to increase income through means other than taxes, projected budget increases versus available income at three and five years, and new program to assist with recruiting and retaining volunteers for emergency services.

The consultant will provide a multiyear plan for the borough to implement and may also provide an emergency plan for the current year, if financial analysis shows a critical cash flow that would impact the health, safety or welfare of residents.

The multiyear plan will lay out the borough’s top three financial management priorities and provide a detailed action plan, including budgetary impact and timing and deadlines.