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Final Comments <br />The City's current financial position is strong, and well positioned to fund some new programs <br />and services. However, both State-imposed levy limits, and the City's e�sting fiscal policies <br />and practices limit the ability to fund new programs beyond a modest amount, unless funding is <br />redirected from another program. It's also important to note that a key ingredient in achieving <br />our current financial strength was the commitment to keeping a long-term perspective, and the <br />ability to utilize non-property tax revenues to support City operations. <br />Given the potential for a substantial impact on taxes as well as other programs and services, it <br />may be advisable to delay making any change in policy that shifts the burden to taxes, until after <br />the 2003 budget process is complete. Our existing programs and services are highly <br />interdependent and in many cases heavily reliant on taxes. A significant change in the <br />Assessment Policy could potentially reduce funding for these programs and services. <br />Attachment B <br />-5- <br />