In terms of ethical practices, Cleveland’s financial policies are largely compliant with state laws regarding allocating money for public services such as education or infrastructure while conforming to any debt limit restrictions set by its charter. As far as external challenges go, low economic growth could affect revenue collections going forward especially if people become more conservative with their spending . This can be offset however by increasing fees or introducing new ones when needed though this approach might not always be received positively by citizens who will have bear burden additional costs imposed upon them .

Regarding internal opportunities available city one must consider possibility using reserves set aside during good times cover expenses during difficult ones reduce amount borrowing necessary maintain balance . Additionally there hope that through investments technology modernization certain processes like collection data application payment taxes etc., will able made simpler speedier thus boosting overall efficiency levels equate savings time resources spent conducting these activities.

Finally taking into account implications inflation means constantly reevaluating how much need charging citizens ensure sufficient return covering cost providing goods services yet still remain within limits acceptable taxation model adopted which becomes particularly important longer-term investments concerned since value money diminish over time necessitating higher rates return even investment remains same throughout given duration