Council Budget Policies
The City Council has established budget policies which guide the development of the City’s budget. These policies have been established to help manage financial pressures to address growing demands upon City resources, while preserving long-term fiscal stability.
The fiscal policies adopted by the Council include:
- Focusing on the long-term fiscal health of the City by adopting a two-year budget
and conducting multi-year planning;
- Building a prudent reserve;
- Developing long-term strategies to reduce unfunded liabilities;
- Controlling labor costs while minimizing layoffs;
- Allocating one-time revenue for one-time expenses;
- Requiring enterprise and grant funds to balance and new programs to pay for themselves;
- Any new expenditure requires revenue or expenditure reductions; and
- New policy: no new capital projects until current program is funded.