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To ensure the protection of all City funds through a good system of financial planning and <br />accounting controls. <br />To create a document for staff and Council members to refer to during financial planning, budget <br />preparation, and other financial management issues. <br />II. REVENUE MANAGEMENT <br />It is essential to responsibly manage the City’s revenue sources to provide maximum service value to the <br />community. Some revenue sources, such as intergovernmental proceeds (LGA and other state aids) are <br />outside of direct City control and are consequently unaddressed by this policy. This policy establishes <br />guidance for the two major sources of City revenue: property taxes and fees/charges. <br />Property Taxes: <br />The property tax rate will not be increased without exploring all other alternatives. Basic City services, as <br />annually defined and approved by the City Council, will be funded to the maximum extent possible by <br />increases in market valuation, (i.e., new tax base growth and valuation increase). <br />Priorities for increasing the property tax rate include: <br />Long-term protection of the City’s infrastructure. <br />Meeting legal mandates imposed by outside agencies. <br />Maintaining adequate fund balance and reserve funds sufficient to maintain or improve the City’s <br />bond rating. <br />Property tax rate increases to meet other purposes will be based on the following criteria: <br />A clear expression of community need. <br />The existence of community partnerships willing to share resources. <br />Establishment of clearly defined objectives and measurements of success. <br />Maintain current level of City Services. <br />Service Fees and Charges: <br />The City will establish service fees and charges wherever appropriate for the purpose of keeping the <br />property tax rate at a minimum and to fairly allocate the full cost of services to the users of those <br />services. Specifically, the City will: <br />Establish utility rates sufficient to fund both the operating costs and the replacement of capital <br />equipment items, plus maintain an adequate level of working capital. <br />As part of the City’s enterprise effort, evaluate City services and pursue actions to accomplish the <br />following: <br />The City will charge non-resident fees, which reflect the total cost of the activity or programs. <br />72