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<br />City of San Marcos <br />FY21 Proposed <br />Budget Policy Statement <br />I. FUND BALANCE <br /> General Fund: Maintain 25% (of recurring operating expenses)with the <br />option to bring back to Council for further consideration later during the <br />budget process <br /> Water/ Wastewater Fund: Maintain 25% (of recurring operating expenses). <br /> Drainage Utility Fund: Maintain 25% (of recurring operating expenses). <br /> Electric Utility Fund: Minimum of the equivalent of 60 days of operating <br />expenses including purchased power. <br />II. REVENUE <br />GENERAL FUND <br /> Property tax rate to be less than or equal to the voter approval tax rate. <br /> Amend budget during fiscal year if revenue deviates from budget. <br /> Property tax to be forecasted based on existing properties not exceeding <br />3.5% revenue cap. <br /> Sales tax to be forecasted with incremental impact of $1M decrease assumed <br />loss in Best Buy Call Center revenue based on pending ruling from <br />Comptroller. <br /> All other revenues will be budgeted based on historical trends. <br /> Potential new fees to be evaluated and proposed to Council during the <br />budget process <br /> Cost Recovery fees will be implemented for Parks & Recreation effective <br />Sept 1, 2020. Development Services will begin Cost of Service Study <br />during FY20, other user fees may be increased by CPI index for the <br />calendar year 2019. <br /> Revenue generated from the increased tax rate’s operating & maintenance <br />capacity $500,000 to be reserved for additional bond project expenses <br /> Potential revenue from alternative funding sources will be evaluated and <br />proposed to Council during the budget process. <br /> Recommendation for revisions to the economic development policyto be <br />presented later in the budget process <br />Budget Policy Page 1 March 5, 2019 <br /> <br />