Laserfiche WebLink
• The City will fully fund accrued unused vacation annually. <br />• The City will periodically update replacement and maintenance financing plans, and <br />incorporate them into the Budget. <br />E. FUND BALANCE <br />• The budget year estimated fund balance includes prior year actual fund balance plus <br />estimated revenues minus the expenditure budget. <br />• Long-term liabilities including Pension, OPEB and debt (bonds and loans) are excluded <br />from fund balance. <br />• The Workers Compensation Fund balances include claims payable (estimated value of all <br />claims the City has received that are still outstanding). <br />F. CAPITAL IMPROVEMENT POLICIES <br />• The City will construct all capital improvements in accordance with an adopted capital <br />improvement program. <br />• The City will develop a four-year plan for capital improvements to be updated at least bi- <br />annually. Future capital revenues and expenditures will be projected annually for a four- <br />year period based on changes in the community population, real estate development <br />and/or replacement of the infrastructure. <br />• The City will coordinate preparation of the Capital Improvement Budget with preparation <br />of the Operating Budget. Future operating costs associated with new capital <br />improvements will be projected and included in Operating Budget forecasts. <br />• The City will identify the estimated costs and potential funding sources for each <br />proposed capital project before it is submitted to Council for approval. <br />• The City will attempt to determine the least costly financing method for all new projects. <br />• The estimated cost of Capital replacement for enterprise funds such as water and sewer <br />will be updated at least every two years to ensure that rates and charges are covering the <br />full cost of operating these programs. <br />216 <br />