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• <br />Nm a <br />City • San Marcos <br />FY20 Proposed Budget Policy <br />Statement <br />I. Fund Balance <br />■ General Fund: Maintain 25% (of recurring operating expenses). <br />■ Water/ Wastewater Fund: Maintain 25% (of recurring operating expenses). <br />■ Drainage Utility Fund: Maintain a range of 20% (of recurring operating <br />expenses). <br />■ Electric Utility Fund: Minimum of the equivalent of 60 days of operating <br />expenses including purchased power. <br />II. Revenue <br />■ Property tax rate maintained at 61.39 cents per $100 of valuation. <br />■ Amend budget during fiscal year if revenue deviates from budget <br />■ Revisit Over 65 tax freeze in June awaiting state legislature ruling on <br />property tax cap on rollback rates <br />■ Utility Fund franchise fee transfers to the General Fund reduced back to <br />7% <br />■ All other revenues will be budgeted based on historical trends. <br />■ Adjust fees according to Fee Policy (upon adoption), or CPI index for the <br />calendar year 2018. <br />■ Revenue generated from the increased tax rate's operating & maintenance <br />capacity remaining $500,000 to be reserved for additional bond project <br />expenses <br />WATER FUND <br />■ Rate study to determine possible rate increases and structure changes. <br />■ Citizens Utility Advisory Board will make recommendations related to rate <br />structure and future rate adjustments. <br />Budget Policy Page 1 March 5, 2019 <br />