FY 2008-2009_Budget Document - Laserfiche WebLink

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We are especially pleased that there are no property tax rate increases or new debt issuances related to the increase in the budget. The additional projects are being funded by utilizing excess fund balances and previously issued debt that had been stranded. With the associated fund draw downs, the remaining fund balances continue to meet operational objectives and current fiscal policies. In addition, the expectation of significant property sales next year will go towards replenishing these funds. Embodied in this document are key principles, which are important to the City’s long-standing commitment to having a sound budgetary and financial program. The priorities of La Porte’s city government are many. This year’s budget is based around the following themes: (1) no increase in the property tax rate, (2) fund the employee pay plan (4% merit increases), (3) no increases in employee health care contributions, (4) capital projects, (5) balance the budget, (6) customer service, (7) economic development, (8) communication / technology improvements, (9) stabilize revenue streams necessary to protect City assets, (10) continue providing the best services at lowest cost. This budget continues to provide a high level of service to the entire La Porte community, and at the same time, is designed to keep ad valorem taxes at the same rate as in prior years. The 2008-09 City Budget is designed to render municipal services at a similar level as delivered in the prior year. In addition, this financial plan will focus on obtaining desired results by reducing infrastructure deficiencies identified during previous City Council workshops. Furthermore, our plan will continue to promote the expansion of recreation amenities for the general population. Throughout the budget one will discover planned programs and projects that enhance the work environment and the community. One will notice the alignment of resources to meet the goals and objectives of this City Council. We are convinced one of the reasons our staff has excelled in the public programs we offer is because City Council has provided employees with the resources needed to deliver these services. INTRODUCTION B? W HAT IS A UDGET A budget is a document that sets forth the financial plan the City will follow in providing services to its citizens. It contains guidelines for normal operations as well as capital improvements to benefit the future. It is also an instrument whereby basic policies of the City can be presented along with their impact on services and operations. The budget is used by City Administration to monitor its operations and to assist its mid managers in performing their directives. Finally, the budget is the device that communicates to its readers the direction the City will follow in the future. Further information on the Budget Plan and Process can be found on page 17. SUMMARY OF RESOURCES The primary resources for the City of La Porte are taxation and charges for services. The underlying basis for estimation of resource collection is historical trend analysis combined with a conservative attitude. RDTT ESOURCESERIVEDHROUGHAXATION The resources derived from the taxation of property located in the City are by far the largest resource of the City. The process the City uses is known as Ad Valorem Taxation, which means according to value. Fiscal year 2008-09 will mark the twentieth year the City has maintained its tax rate at 71 cents per $100 taxable valuation. The appraisal of property within the City is the responsibility of the Harris County Appraisal District (Appraisal District). The Appraisal District is required under the Property Tax Code to appraise all property within the county on the basis of 100% of its market value. The value of real property within the Appraisal District must be reviewed every three years; however, the City may, at its own expense, require annual reviews of appraised values. Under current legislation, the City Council continues to set tax rates on property. However, if the proposed tax rate, excluding tax 2