City of La Porte Operating Budget 1996-1997

Browse Search

Capital Outlay Funds The Capital Improvement Funds, while not containing any multi-million dollar projects as in past years, contains numerous small to medium sized projects that will help fine tune the City infrastructure and facilities. The 1996-97 budget does include over $2.3 million of capital improvement. For fiscal year 1996-97, the City will not have any "large" projects. While small in nature, these projects are vital to the City's continued operation in a manner that is acceptable to our citizens. The projects identified for the fiscal year 1996-97 are described in Section 7. None of the projects will have a major impact on increasing operational costs. We expect increased efficiency to result from several of the projects, especially the computer enhancements and the improvements to the sewer system. TARGETED OPERATING BALANCES The City strives to maintain a minimum working capital balance of 90 to 120 days of operating expenses in its Op~rating Funds and 60 to 90 days of working capital balance in its Debt Service Funds. With the exception of the Utility Fund, all funds currently meet or exceed this bench mark. REPORTING LEVELS The following represents the reporting structure used in this document. Fund Department Division Line Item Detail Departments cross fund lines, for example, the Utility Fund divisions are under the management Of the Directors of Public Works and Finance. A description of the Organization of Funds for the City can be found on page 1-19. LONG RANGE STRATEGIC PLANS The City has a Long Range Strategic Plan (seven years) for its utility operation and the Debt Service Funds. These plans have helped the City identify, and prepare to meet, its needs in future years. DEBT MANAGEMENT The City has a Debt Management Plan that covers all of its debt service accounts. The plan outlines the extinguishment of current debt as well as future debt issues. The plan places emphasis on the next five years. The plan is reproduced in its entirety in Section 8 of this budget document. Highlights of the three funds are: . The General Debt Service Fund is designed to maintain a constant tax rate of 14 cents per $100 dollar assessed valuation for the next six years. This rate allows for the servicing of existing debt and the issuance of new debt. This rate of 14 cents is equal to 19.7% of the total tax rate. 1-12 I I I I I I I I I I I I I I I I I I ,I