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City of Roseville — 2004 Budget ❑ A request for new personnel must be supported by an analysis demonstrating the need for the position based on workload measures, comparative staffing levels, and department priorities. ❑ A request for purchase of new (additional) capital equipment must be supported by a net present value analysis demonstrating the present value of the benefits of the equipment is greater than the cost of the equipment over the expected life of the equipment. The City has become more dependent on local government aid in recent years as the state has controlled local levies and replaced them with increased local government aid. This has replaced a more stable revenue source (property taxes) with a less stable one. One way to deal with this instability is to develop a budget reserve that can be used if local government aid is significantly reduced without adequate notice. ❑ The City will maintain a budgetary control system to ensure adherence to the budget. ❑ The Finance Department will prepare regular reports comparing actual expenditures to budgeted amounts as part of the budgetary control system. ❑ Department heads shall be primarily responsible for maintaining expenditures within approved budget guidelines that are consistent with approved financial policies. Implementation The budget as approved meets the above criteria and as a result, the above policies have been implemented. Capital Improvement Policy Purpose To ensure that capital expenditures are well planned and enable the city to replace capital items when needed, without requiring significant fluctuations in property tax levy. Scope All departments and funds are included in the Five -Year Capital Improvement Program (CIP). The CIP identifies the timing and financing of all capital items. Policy ❑ All capital improvements shall be made in accordance with an adopted Capital Improvement Program. ❑ The City will develop a Five -Year Plan for capital improvements and update it annually. ❑ The City will enact an annual capital budget based on the multi-year Capital Improvement Plan. Future capital expenditures necessitated by changes in population, changes in real estate development, or changes in economic base will be identified and included in capital budget projections. ❑ The City will coordinate development of the capital improvement budget with development of the operating budget. Future operational costs associated with new capital improvements will be projected and included in operating budget forecasts. ❑ The City will provide ongoing preventative maintenance and upkeep on all its assets at a level adequate to protect the City's capital investment and to minimize future maintenance and replacement costs. ❑ The City will identify the estimated costs and potential funding sources for each capital project proposal before it is submitted to Council for approval. ❑ The City will determine the least costly financing method for all new projects. 106