RES 90130 - Laserfiche WebLink

A diversified, expanding revenue base that is locally generated Current year operating expenses funded by current year revenues Water and Sewer services and capital replacement funded entirely by user fees New development to finance the capital infrastructure required by the new development Available general fu~d reserves to be used for capital projects and not for on-going operations. The additional financial policies recommended for approval will be forwarded to the Council with the adoption of the budget. III. FINANCING THE BUDGET PLAN The City's financial goal is to support and enhance services to the community with locally generated revenues. With the strong growth in the community in the 80's there was no difficulty keeping up with the increased cost of goods and services from locally generated revenue. The growth in property tax and sales tax revenue which resulted from the growth in the residential and business population provided for the enhancement of e~isting services and the addition of new services. It is estimated that the growth in population and correspondingly the growth in property and sales tax revenue is beginning to occur at a slower rate than in the past. As the growth rate declines it statistically becomes more difficult for municipalities to continue enhancing services at the same rate as in the past. With the diverse economic portfolio of the community, however, we estimate we will be able to continue to maintain and enhance local services in the future. Through prudent land-use planning the community has a strong mixture of commercial and retail services which will help provide a revenue stream that should be unaffected by a decline in any single revenue source. IV. SUM~%RY OF 1990-1991 ANNUAL BUDGET A. Overview 1. Total Revenue Total annual operating and capital improvement revenue from all funds for fiscal year 1990-91 is estimated to be $44,706,220, or 6.2% larger than fiscal year 1989-90.