City of La Porte Operating Budget 1998-1999

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I I I I I I I I I I I I I I . . - . RISK MANAGEMENT Liability insurance premiums are expected to remain constant for the new fiscal year. The premiums for 1998 are 23.5% lower than they were in 1988, when the City increased efforts aimed at reducing premiums. Worker's compensation premiums are projected to decrease slightly for the new year, but this follows a 50% percent decrease in the previous year. The City attributes both of these favorable rates to the impact of internal review committees which have been active during the past nine years. LONG RANGE GOALS In June of 1988, the City started into motion the largest City wide planning effort ever to occur in the area. The effort involved over 100 citizens. The process took in excess of one year to complete and was coordinated by City staff. After countless committee meetings and various workshops, City Council adopted the plan, known as "Visions 89" on August 23, 1989. The executive summary from the Goals Statement is found starting on page 1-23. In September of 1998, a 15-member Steering Committee was formed to work with consultants to review and update the City's Comprehensive Plan. We anticipate this process to be completed this fiscal year. FINANCIAL MANAGEMENT POLICIES The City Council of the City of La Porte has adopted Financial Management Policies. These policies are used as guidelines by the City in financial decisions. A copy of the policy is found in section 9. Since the p,olicy is a stand alone document, the City has elected to leave its Table of Contents with the document. AWARDS The Govemment Finance Officers Association of the United States and Canada (GFOA) presented an award for Distinguished Budget Presentation to the City for its annual budget for the fiscal year beginning October 1, 1997. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan and as a communications device. The award is valid for a period of one year only. We believe our current budget continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award. ACKNOWLEDGMENT The preparation of the budget on a timely basis could not have been accomplished without the efforts and dedication of the staff of the Department of Finance. We would like to express our appreciation to our staff and other personnel from various departments who assisted in its preparation. In conclusion, this balanced budget represents the latest of several expenditure strategies reflecting sound, prudent, financial management policies and practices. Council is to be congratulated for providing strong leadership. Respectfully submitted, ~J,.w 'T. \\~~ Robert T. Herrera - City Manager 1-13