Res 2013-142/Adopting a revised financial policy

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a. Freeze newly created positions. b. Implement a time delay for hiring vacant positions. 2. MINOR: The estimated annual sales tax revenue is 2.5% less than the sales tax revenue adopted budget. a. Suspend funding of Capital Maintenance accounts. b. Suspend capital outlay purchases. C. Reduce the number of temporary workers. 3. MODERATE: The estimated annual sales tax revenue is 3.5% less than the sales tax revenue adopted budget. a. Implement a managed hiring program for vacant positions. b. Reduce travel and training budgets. C. Reduce office supply budgets. d. Scrutinize professional services expenses. e. Implement a salary freeze and suspend mid -year merit increases if possible. 4. MAJOR: The estimated annual sales tax revenue is 4.5% less than the adopted sales tax revenue budget. a. Scrutinize repairs and maintenance expense. Perform only critical maintenance and make only critical repairs. b. Freeze all external printing and publication expenses, except for legally required notices. C. Reduce overtime budgets. d. Prepare a Reduction in Force Plan. e. Defer payments to City -owned utilities for electricity, street lighting, water and wastewater services. 5. CRISIS: The estimated annual sales tax revenue is 5% less than the adopted sales tax revenue budget. a. Service level reductions, elimination of specific programs, reduction - in -force and other cost reduction strategies will be considered. b. Reduce departmental budgets by a fixed percentage or dollar amount. C. Departments will prioritize service levels and programs according to City Council goals and objectives. d. Consider four -day work weeks to reduce personnel costs. e. Reduce external program funding — social service agencies. VI. Expenditure Policies A. Appropriations — The point of budgetary control is at the department level budget for all funds. Following formal adoption, the budget is amended or adjusted as necessary.