Laserfiche WebLink
FISCAL POLICIES <br />I. OPERATING BUDGET POLICIES <br />A. Purpose <br />The operating budget policies insure that the city's annual operating <br />expenditures are consistent with past expenditures and respond to long-term <br />objectives rather than short-term benefits. The policies allow the city to <br />maintain a stable level of services, expenditures, and tax levies over time. These <br />policies are most critical to programs funded with property tax revenues <br />because accommodating large fluctuations in this revenue source is difficult. <br />B. Policy <br />The city will avoid balancing current revenues with funds necessary for future <br />expenses. <br />The city will not budget to accrue future revenues. <br />• The city will avoid postponing expenditures, rolling over short-term debt, and <br />using reserves to balance the operating budget. <br />The city will budget to maintain and replace the capital plant and equipment. <br />The city will apportion its administrative and general government costs to all its <br />funds as appropriate and practical. These charges will be identified in the <br />annual budget. <br />The city will budget a contingency to draw upon if revenues fall short of <br />expenditures due to unanticipated circumstances. <br />The city staff will prepare quarterly financial reports comparing budgeted <br />expenditures and actual expenditures to assure adherence to the budget. <br />The city staff will monitor departmental expenditures to adhere to the budgeted <br />amount. <br /> <br />ly <br />