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S A 0 S <br />City of San Marcos <br />FY22 Proposed <br />Budget Policy Statemen) <br />"NZUAA��M, <br />® General Fund: Maintain 20-25% of recurring operating expenses for FY22 <br />and return to 25% in future years. <br />■ Water/ Wastewater Fund: Maintain 25% of recurring operating expenses. <br />■ Drainage Utility Fund: Maintain 25% of recurring operating expenses. <br />■ Electric Utility Fund: Maintain minimum of the equivalent of 60 days of <br />operating expenses including purchased power. <br />IL REVENUE <br />■ Property tax rate to be less than or equal to the FY21 adopted 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% tax cap. <br />■ Sales tax to be forecasted with loss in Best Buy Call Center revenue and <br />COVID-19 impact. <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 Development Services effective <br />Sept 1, 2021. Other user fees may be increased by CPI index for the <br />FY2022. <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 policy to be <br />presented later in the budget process and consider the impacts of Senate <br />Bill 2 revenue caps on economic development incentive agreements. <br />Continue annual rate study to determine possible rate increases and/or <br />structure changes. <br />Budget Policy Page 1 March 16, 2021 <br />