BUDGET GUIDELINES
Projects that are determined to have merit but which do not fit within the City’s existing work program, or which are unfunded, may be added to the City’s capital project watch list; this list is kept within the City’s Strategic Business Plan document in a section titled “Potential Capital Improvement Projects for Future Consideration.” The projects identified in this section are reviewed annually by staff when evaluating grant and other funding opportunities, and the projects listed there may be given future consideration as funding opportunities develop. The Strategic Business Plan document is reviewed annually by the City Council. Sources of Revenue The City will strive to maintain a diversified and stable revenue system to provide protection from short- run fluctuations in any single revenue source to promote consistent service levels. Intergovernmental assistance shall be used to finance only those capital improvements that are consistent with the capital improvement plan and local government priorities, and whose operation and maintenance costs have been included in operating budget forecasts. Programs and services funded by restricted revenue will be clearly designated as such. Restricted revenue shall only be used for the purposes legally permissible and in a fiscally responsible manner. Restricted revenues shall be used prior to unrestricted revenue as legally permissible. The City shall develop and maintain methods of forecasting future revenues and expenditures. These methods shall project the City’s future revenues and expenditures through a variety of methods including, but not limited to, forecasts of the economy and future development of the City. The portion of revenue from development fees that supports citywide overhead costs shall be classified as a General Purpose Revenue and identified as General Fund Revenue Transfers-In and be used to offset General Fund overhead costs. Revenue Collection The City shall strive to improve its tax collection rate through legislative initiative and advocacy at the state level and cooperative effort at the county level. Revenue Projection The Budget Office will estimate General Fund revenues using an objective and analytical process, as well as documenting and maintaining specific assumptions. In instances where there is uncertainty as to assumptions, conservative revenue projections shall be provided. Grants and Federal Funds The City shall aggressively pursue all grant opportunities; however, before accepting grants, the City will consider the current and future implications of both accepting and rejecting the monies, including: The amount of matching funds required; In-kind services to be provided; Requirements for reporting, earmarking and level of effort requirements; The related operating expenses; and Length of grant and consequential disposition of service (i.e. is the City obliged to continue the services after the grant has ended).
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FY 2019-21 Proposed Budget
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