My WebLink
|
Help
|
About
|
Sign Out
Home
2004 Approved Budget
Roseville
>
Budget
>
2004 Approved Budget
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/19/2012 1:23:15 PM
Creation date
6/19/2012 1:20:49 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
170
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
City of Roseville — 2004 Budget <br />Implementation <br />The Capital Improvement Program has been updated to reflect capital expenditures through 2007. <br />Debt Policy <br />Purpose <br />❑ To define the role of debt in the City's total financial strategy so as to avoid using debt in a way that <br />weakens other parts of the financial structure of the City. <br />❑ To provide for limits on debt to avoid potential pitfalls in servicing the debt. <br />❑ To maintain the best possible Moody's and Standard and Poor's credit rating. <br />Polic <br />❑ The City will confine long -term borrowing to capital improvements or projects that cannot be <br />financed from current revenues. The City shall not use debt for the purchase of vehicles and other <br />rolling stock. <br />❑ When the City finances capital projects by issuing bonds, it will pay back the bonds within a period <br />not to exceed the expected useful life of the project. <br />❑ The City will try to keep the average maturity of general obligation bonds at or below ten years. <br />❑ The City will strive to keep the direct debt per capita and direct debt as a percent of estimated market <br />value at or below the median set out by the credit rating agencies. <br />❑ Total general obligation debt shall not exceed two percent of the market value of taxable property as <br />called for by State law. <br />❑ The City shall not use long -term debt for current operations. <br />❑ The City will maintain good communications about its financial condition with credit rating <br />agencies. <br />❑ The City will follow a policy of full disclosure on every financial report and bond prospectus. <br />❑ Refinancing or bond refunding will only be undertaken when there is significant economic <br />advantage to the City, and when it does not conflict with other fiscal or credit policies. <br />❑ The maintenance of the best possible credit rating shall be a major factor in all financial decisions. <br />Implementation <br />The debt management section of this approved Budget and Capital Improvement Program demonstrate <br />compliance toward achieving the city's debt policy. <br />Revenue Policy <br />Purpose <br />❑ To provide a diversified and strong set of revenues to ensure a stable revenue system for the City. <br />❑ To match similar sources and uses of revenues and thus to ensure adequate funding for the various <br />City services and programs over the long -term. <br />❑ To ensure equitable funding among City programs and services. <br />Polic <br />❑ The City will try to maintain a diversified and stable revenue system and to shelter it from short run <br />fluctuations in any one revenue source. <br />107 <br />
The URL can be used to link to this page
Your browser does not support the video tag.