Laserfiche WebLink
City of <br />����. � <br />�_ <br />Fiiioorsot� L3.� <br />Operating Budget Policy <br />Pi�rpQSe <br />The purpose of the City's Operating Budget Policy is to ensure that the City's annual operating <br />expenditures are based on a stable stream of revenues. The �olicies are designed to encourage a <br />�ong-tezxza perspective to avoid pursuing short-term ber�e�'i�s at the expense of future �'a�xapacts <br />�K. The intent of this policy i� i� i�� � enable a ststainable �b�� level of services, <br />expenditures, and property tax levies. <br />Scope <br />Thi � esa policy � applies � most critically to those programs funded through the property tax, �� <br />�c���t��i�-�Nto�i���€��e�a�����1� fluctuations in this revenue source can have substantial <br />zmtaacfs. <br />�'�li�� <br />Cl The City will pay for all current expenditures with current revenues. The City will <br />avoid budgetary procedures that balance current expenditures at the expense of ineeting <br />future years' expenses. Specifically, accruing future year's revenues shall be prohibited. <br />Practices to be avoided include postponing expenditures, rolling over short-term debt, <br />and using reserves to balance the operating budget <br />� Comment � Coni�^ary d� this policy, the City has relied on the use of <br />reserves ta plug the budgetgap in 3 of the last 4 annual budget years <br />CI The budget will provide for adequate maintenance of capital plant and equipment, and <br />for their orderly replacement <br />� Comment '� Contrary to this policy, the City does NOT have ihe <br />necessary funding mechanisms in place to replace �r�F City assets at the <br />end of their useful lives. This has necessitatedreplacementdeferrals and <br />a general reliance on one-time monies <br />t] A proportionate share of the administrative and general government costs incurred by <br />the general operating fund of the City shall be borne by all funds as is practicable. Such <br />administrative charges shall be predetermined and budgeted annually <br />❑ New programs or proposals shall be reviewed in detail by City staff and both a policy <br />and fiscal analysis shall be prepared prior to budgetary inclusion, and provided to the <br />City Council for � review <br />� A request for a program or service expansion or reduction must be supported by an <br />analysis of public policy implications of the change <br />