Res 2018-036/approving a budget policy statement for preparation of the 2018-2019 fiscal year

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BANMARCos • City of San Marcos 2019 Proposed Budget Policy Statement o I. Fund Balance • General Fund: Maintain 25% (of recurring operating expenses). • Water/Wastewater Fund: Maintain 25% (of recurring operating expenses). • Drainage Utility Fund: Maintain a range of 20% (of recurring operating expenses). • Electric Utility Fund: Minimum of the equivalent of 60 days of operating expenses including purchased power. II. Revenue GENERAL FUND • Property tax rate maintained at 61.39 cents per$100 of valuation. • Property values increased based on a conservative trend estimated at 10%. • Explore impact of providing homestead exemption and an over 65 freeze. • Base sales tax revenue and revenue generated by the outlet mall will not be increased from the FY18 budget. Revenue generated by Best Buy will include the City's 25% allocation and will be increased by 4% from FY2018. These estimates will be updated as the collection trend indicate. • Maintain City-owned utility fund franchise fee transfers to the General Fund at 8%. • Bring forward Community Services fee adjustments based on the results of the cost of service study. • All other revenues will be budgeted based on historical trends. • Fees for services will be increased approximately 2.12% based on the average CPI index for the calendar year 2017. WATER FUND • Rate study to determine possible rate increases and structure changes. • Citizens Utility Advisory Board will make recommendations related to rate structure and future rate adjustments. ELECTRIC FUND • Rate study to determine possible rate increases and structure changes. No rate adjustment anticipated. • Citizens Utility Advisory Board will make recommendations related to rate structure and future rate adjustments. STORMWATER MANAGEMENT FUND Budget Policy Page I March 6,2018