2004 Approved Budget - Laserfiche WebLink

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City of Roseville — 2004 Budget ❑ City enterprise funds shall have operating cash reserves sufficient to provide for monthly cash flow, and for a reasonable level of equipment and infrastructure replacement. Major reconstruction or system upgrades, may need to be funded from enterprise revenue bonds. Annual utility rate reviews will be made in regard to projected operating expenses and capital improvements. The Council will, on an annual basis, establish rates in accordance to operating cost recovery and the projected capital improvements. ❑ All other operational funds e.g. license center, Information Technology, gambling, etc are expected to operate with positive reserve balances of at least 25% of the annual operating budget. However, as many of these funds are for a short duration or are supporting specific projects, those balances may be above or below that limit in any given year. Each operational fund shall be reviewed on an annual basis to assure the fund balance is in line with the fund's objectives. ❑ A one time capital gain on the City's treasury portfolio has provided a fund which has been dedicated to providing an ongoing tax reduction to Roseville property taxpayers. The projection and business plan is to reduce the required tax levy increase by approximately 2/3 annually. This Fund is a permanent fund under GASB 34. Implementation All fund reserves shall be reviewed each year at the time of the annual budget preparation. Budgets shall be prepared on an "All Resources" basis, so that the City Council and Community can readily discern the current and projected management of all reserves. Open Government and Fiscal Disclosure Policy The City has always had the policy of openness and disclosure. To ensure that city related groups such as commissions, committees, associations, and joint powers organizations are aware and reflect this openness, it is understood that any policy- making which directly impacts the fiscal health of the community is expected to be disclosed properly and timely to the public. This policy includes disclosure in both the spirit of openness and within the requirements of the appropriate state statutes. Polic Coverage ❑ The City will conduct the governmental fiscal and budgetary policy deliberations in a public space, preferably either in City Hall, the Activity Center or other city halls, libraries, etc. and in a space which is accessible. ❑ The proceedings are to be broadcast or recorded in either video or voice mode. ❑ The City will prepare and provide summaries of proposed and final documents related to fiscal issues, which will be presented and discussed in an open meeting setting as described above. ❑ All City committees, commissions, joint power organizations and other groups on which any person from the city staff or any member of the City Council is either requested or is required to serve and establishes fiscal policies regarding City Funds, will adhere to the same open government procedures and process outlined above. ❑ Committees, commissions and other groups which do not make fiscal policy regarding City Funds, are expected to provide for at least a 72 hour advance meeting notice, to hold the meetings at locations which are readily accessible to all. Proceedings of Required Groups ❑ Copies of minutes and either a video or audio tape of fiscal policy deliberations shall be kept on file 110