Unalaska, AK – The Unalaska City Council meets for its final meeting of the year this evening, and one of the items on the agenda is the prospect of developing a financial sustainability plan for the city.

The plan would basically be a five-year budget that would chart the city's course through what may be a difficult few years. The city's financial obligations are increasing while shrinking revenues from the fishing industry could cost the city as much as $3 million in taxes next year. City Manager Chris Hladick said its better to confront those challenges sooner rather than later.

"We've got $250 million worth of projects in the next five years, we've got rising insurance costs and rising retirement costs," he said. "I think it's a good exercise to take the council through to figure out where we should focus our attention."

Hladick said that a long-term spending plan is important in case the city can't get the kind of financial resources that were available in the past.

"I don't know if there are more places to seek funding from," he said. "I think as time goes by there will be less funding available from grants, from Congress and from the Legislature. But that remains to be seen."

The discussion of the plan at tonight's meeting is the beginning of what Hladick said would probably be a year long process.

The council meets at 7 p.m. at its chambers in City Hall.