SR 06:127 - Laserfiche WebLink

Prograrn 7.2: Set Sewer and Enterprise Fund rates and charges at a level which will support the total direct and indirect costs of the enterprise, including the provision oflong-term capital replacement. Goal 5: To guarantee a balanced annual City budget and ensure that the City exists within its means and maintains adequate reserves in anticipation of known and unknown future obligations and insulates the budget as much as possible from the diversion of revenues away. Policy 12: Limit the use of debt so as not to place a burden on the fiscal resources of the City and its taxpayers. Program 12.1: Limit long-term borrowing to capital improvements or projects that cannot be financed from current revenues. Program 12.2: When capital projects are financed, amortize the debt within a period not to exceed the expected useful life of the project. Program 12.3: Except as otherwise approved by the City Council, limit the debt ratio (debt guaranteed by the General Fund) to not more than ten percent. Program 12.4: Investigate the use of special assessment, revenue, or other self- supporting bonds to limit the General Fund obligation for debt service payments whenever possible. Program 12.5: Maintain strong communications with bond rating agencies about the City's financial condition, and follow a policy of full disclosure on financial reports and bond prospectus. Program 12.6: Strive to maintain or improve the City's bond rating. Program 12.7: Utilize inter-fund loans when possible to reduce the cost of financing capital improvements. Issues and Options The three primary issues pertaining to the fiscal and economic well being of Pleasant on were raised by the Economic Vitality Committee. No further issues were identified during the recent Community Meetings. The three issues raised by the Committee pertain to: fiscal sustainability at General Plan buildout, the City debt limit, and the City retirement plan. Each is presented below and provided with background discussion. 31