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<br />. <br /> <br />. <br /> <br />Financial Management Policies <br /> <br />1. Operating Budget Policies <br /> <br />The objectives of the operating budget policies is to maintain adequate service <br />levels at reasonable costs by following sound financial management practices. <br /> <br />Balanced budget <br /> <br />The operating budget shall be ,balanced. For each fund, ongoing costs shall <br />not exceed ongoing revenues plus available working capital balances in <br />accordance with the Reserve Policies listed in Section 3. <br /> <br />Borrowing for operating expenditures (expenses) <br /> <br />The City shall not use debt or bond financing to fund current operating <br />expenditures (expenses). <br /> <br />Performance evaluatioh <br /> <br />Performance measurement and productivity indicators shall be integrated into <br />the annual budgeting process. All departments shall be reviewed annually by <br />the City Manager for such performance criteria as program initiatives, <br />compliance with policy direction, program effectiveness and cost efficiency. <br /> <br />Budgetary controls <br /> <br />The City shall maintain a budgetary control system to ensure adherence to the <br />adopted budget and asSociated appropriations. Regular reports shall be <br />provided comparing actual revenues and expenaitures (expenses) to budgeted <br />amounts. <br /> <br />Self-supporting enterprises <br /> <br />All enterprise activities of the City shall be self-supporting to the greatest extent <br />possible. These activities include, but are not limited to, Water and Sewer Utility <br />Service, Sylvan Beach Pavilion, Airport, La Porte Area Water Authority, and the <br />Golf Course. <br /> <br />Service planning <br /> <br />All departments shall share in the responsibility of meeting policy goals and <br />ensuring long-term financial viability. Future service plans and program <br />initiatives shall be developed reflecting policy directives, projected resources <br />and future service requirements. <br /> <br />1 <br />