2004 Performance Based Budget - Laserfiche WebLink

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budget-balancing revenue will be avoided. These funds will be used for non-recurring capital acquisition items. The City Administration will prepare regular reports comparing actual revenues and expenditures to budgeted amounts. The City will also prepare a comprehensive annual financial report in accordance with GAAP. Where possible, the City will integrate service level measures and performance and/or productivity indicators with the budget. An independent audit will be performed annually and an audit report will be received by the City Administration and City Council at the conclusion of the audit. The City Administration will promptly evaluate the audit report recommendations, determine the proper actions in response to these recommendations and complete, within established time frames, all actions that correct or otherwise resolve the matters included in the audit report. Revenue Policies 1) The City will take active measures to encourage economic development, thereby developing a diversified and stable revenue system to shelter it from short-run fluctuations in any one revenue source. 2) The City will encourage the County to maintain sound appraisal procedures to keep property values current and to follow an aggressive policy of collecting all tax revenues due the City. 3) The City will establish all user charges and fees at a level closely related to the full cost of providing the services (i.e., direct, indirect and capital costs), taking into consideration similar charges/fees being levied by other public and private providers/organizations. 4) The City will recalculate the full costs of activities supported by user fees to identify the impact of inflation and other cost increases and will revise user fees accordingly with review of the City Council. 5) The City will set fees and user charges for the Water and Sewer Enterprise Funds at a level that fully supports the total direct and indirect cost of the activity. Indirect costs include the cost of annual depreciation of capital assets. 6) The City will follow an aggressive policy of collecting revenues. 7) The City will aggressively seek Federal and State grant and capital improvement funds and evaluate future local fiscal impact. A-11