MO 1999-051 to 1999-055 - Laserfiche WebLink

Home

FINANCIAL GOALS STATEMENT In 1989-90, the City Council adopted a series of Financial Values that were utilized to develop the budget. Since that time, those values have been modified. This restatement of Financial Goals will identify and formalize the financial principles by which this organization will be guided and to which it will adhere when preparing its annual Budget and Strategies, and conducting its day to day and long term fiscal affairs. This is only the initial phase of this process, dealing specifically with budget issues. There will be additional proposed pieces to these Goals in the future in areas such as investments, purchasing, risk management, etc. 1) General Revenue Management a) City services should be self-supporting, to extent possible, depending on their revenue generating capability. b) New sources of revenue necessary to maintain the services desired by the community, and to maintain the City's quality of life, will be identified and recommended. c) The City will diversify its revenue sources. d) Ongoing evaluation of existing sources of revenue will be performed to maximize the City's revenue base. e) Fees will change frequently by small increments instead of infrequently by large increments. f) Fees will be increased or decreased when appropriate. g) Costs of special services will be recovered through user fees. h) Collection policies will be evaluated to maximize the application and fair collection of all fees. i) Grants and subsidies will be directed to "non -recurring cost" programs and improvements. 2) Operating and Capital Expenditure Management a) Departments will provide quality services at a cost comparable to similar private or public enterprises. b) Current year revenues will match or exceed current year expenditures, loans and transfers (balanced budget). c) Reduced costs and improved productivity will be implemented through the use of efficiency measures, or elimination/reduction/privatization of services. .. 13 1. 1