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City a�' <br />� <br />� <br />�tiooeYUta_ U�i <br />Operating Budget Policy <br />PUl'�OSO <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 policies are desi�ned. to encourage a <br />lan�-�er�n perspective to avoid pursuing short-term benefits*at the expense of future problems. <br />The policies will enable a stable level of services, expenditures, and property tax levies. <br />�c «�ae <br />These policies apply most critically to those programs fi�nded through the property tax, because <br />it is most difficult to deal with fluctuations in this revenue source. <br />I}�rti ry} <br />� 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 />❑ The budget will provide for adequate maintenance of capital plant and equipment, and <br />for their orderly replacement <br />C? A proportionate share of the administrative and general government costs incurred by <br />the general operating i�uz�d. 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 its 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 />❑ A request for new personnel must be supported by an analysis demonstrating the need <br />for the position based on worl�load measures, comparative staffing levels, and <br />department priorities <br />❑ A request for purchase of new (additional) capital equipment must be supported by a net <br />present value analysis demonstrating the present value of the benefits of the equipment <br />is greater than the cost of the equipment over the expected life of the equipment <br />� <br />