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Make services financially self-supporting or, whenever possible, strive to develop and maintain <br />them as possible. <br />Establish user charges and fees at or near a level related to the direct, indirect, and overhead cost <br />of providing the services for the enterprise operations. <br />Annually review City services and identify those for which charging user fees are appropriate. <br />These services will be identified as enterprise services and fees will be set for each. Included, as <br />part of this process, will be a market analysis that compares our fees to that charged by other <br />cities. <br />Identify some enterprise services as entrepreneurial in nature. The intent of entrepreneurial <br />services will be to maximize revenues to the extent the market allows. <br />Waive or offer reduced fees to youth, seniors, community service groups, and other special <br />population groups identified by the Council as requiring funding support to maintain program <br />offerings. <br />Selected criteria: <br />To determine the specific rate to charge a fee for services rendered, the rate criteria can be one of five <br />approaches: <br />1. Market Comparison <br />➢ Attempt to set fees equal to the market rate. <br />2. Maximum set by External Source <br />➢ Fees set by legislation, Uniform Building Code, etc. <br />3. Entrepreneurial Approach <br />➢ Fees will be at the top of the market. <br />4. Recover the Cost of Service <br />➢ Program will be self-supporting. <br />5. Utility Fees <br />➢ An analysis will be completed each year to determine the rate necessary to balance the <br />operating budget. <br />III. CASH AND INVESTMENTS <br />Effective cash management is essential to good fiscal management. Investment returns on funds not <br />immediately required can provide a significant source of revenue for the City. Investment policies must <br />be well founded and uncompromisingly applied in their legal and administrative aspects in order to <br />protect the City funds being invested. <br />Legal Aspects: <br />Minnesota Statutes authorize and define an investment program for municipal governments. <br />A. Investment Instruments Authorization <br />