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<br />THE CITY OF <br />SAN MARCOS <br /> <br /> <br />City of Sa n Ma rcos <br />FY 2004-05 <br />Budget Policy Statement <br />Proposed Adoption Date: March 22, 2004 <br /> <br />I. Financial Policies <br /> <br />* Financial Policies <br />.. Maintain commitment to the provisions of the City's Financial Policy <br /> <br />* Fund Balances <br />.. Support the City's Financial Policy goals for fund balances with a <br />commitment to increase the fund balance percentages from last fiscal year: <br />· General Fund: 25 % <br />· Water/ Wastewater Fund: 25 % <br />· Electric Utility Fund: 25 % <br /> <br />GENERAL FUND <br /> <br />* Property Tax Rate <br />.. Prepare a budget with no property rate increase and no new CIP debt <br />.. Staff will formulate a bond election calendar/ process <br />Þ Council may consider a property tax rate increase for critical CIP projects <br /> <br />* Street Minor Maintenance Program <br />.. Increase the street overlay budget by $50,000 using increased revenues <br />collected from the Commercial Solid Waste Hauler Street Use Fee <br /> <br />* Revenues <br />Þ Assumptions should include a 1 % increase in sales tax revenues and a 2% <br />increase in property values <br />.. Consider fee increases based on increases within the last five years and costs <br />for providing services <br /> <br />CAPITAL IMPROVEMENTS PROGRAM <br /> <br />* CIP/ New Debt <br />.. No new CIP debt for FY 2004/05 <br />.. Consider staff evaluations and recommendations for prioritizing projects <br /> <br />WATERlWASTEWATERFUND <br /> <br />* Water/ Wastewater Rates <br /> <br />Budget Policy Workshop <br /> <br />February 27-28,2004 <br /> <br />42. <br /> <br />1 <br />