SR 06:127 - Laserfiche WebLink

Program 17.1: Allow limited use oflong-term borrowing for capital improvements or projects that cannot be financed from current revenues. Program 17.2: When capital projects are financed, amortize the debt within a period not to exceed the expected useful life of the project. Program 17.3: Establish 5 percent as an upper limit for the General Fund debt ratio (annual debt service backed by the General Fund as a percent of total General Fund revenue), except as otherwise determined by the City Council. Program 17.4: 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 17.5: 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 17.6: Strive to maintain or improve the City's bond rating. Program 17.7: Utilize inter-fund loans when possible to reduce the cost of financing capital improvements. Policy 18: Strive to maintain a diversified and stable revenue base that is not overly dependent on any land use, major taxpayer, revenue type, restricted revenue, inelastic revenue, or external revenue. Program 18.1: Promote a diverse economic base by implementing the Economic Development Strategic Plan. Program 18.2: Seek Federal and State grants and reimbursements for mandated costs whenever possible. Program 18.3: Avoid targeting revenues for specific purposes, whenever possible. Program 18.4: Maintain an aggressive revenue collection program to assure that monies due the City are accurately received in a timely manner. Program 18.5: Conduct periodic revenue audits. Program 18.6: Maintain and further develop methods to track major revenue sources and evaluate financial trends. Program 18.7: Maintain efforts to ensure the accuracy of revenue forecasts. XI-17