1992-03-23 Regular Meeting - Laserfiche WebLink

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