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General Fund fee revenue comes from development related charges, such <br />as building permit fees. As growth slows, revenue from these sources will <br />decline. <br /> <br />w <br /> <br />Property Taxes <br /> <br />2.1 <br /> <br />Property taxes are the most important source of revenue for both services <br />and capital investment. In managing property taxes, the City will seek a <br />balance between providing an appropriate level of services, maintaining <br />infrastructure, and affordability for residents. <br /> <br />2.2 <br /> <br />Continued long range financial planning creates the opportunity for <br />managing property taxes and providing the greatest stability in tax rates. <br />Staff`will annually prepare-projections of property valuations, levies and <br />tax rates. <br /> <br />2.3 <br /> <br />2.4 <br /> <br />State control of the property tax system impairs the ability of the City to <br />undertake meaningful long-term planning. Legislative changes in the <br />class rates, State aid, levy limits and other elements of local government <br />finance cannot be predicted. <br /> <br />The City will seek a balanced tax base through support of a sound mix of <br />residential, commercial, and industrial development. <br /> <br />3. Utilities <br /> <br />3.1 <br /> <br />3.2 <br /> <br />3.3 <br /> <br />3.4 <br /> <br />3.5 <br /> <br />The City Council sets fees and user charges for municipal sanitary sewer <br />service and garbage collection. The Utilities Commission sets fees and <br />charges for the water and electric utilities. The City will encourage the <br />Utilities Commission to adopt financial management policies similar to <br />the policies stated in this section. <br /> <br />The City will strive to set user fees for municipal utilities at a level that <br />creates financially sustaining enterprises. <br /> <br />The fee structure for municipal utilities should produce a net annual <br />surplus of revenues over expenditures after accounting for all operating <br />costs, depreciation of capital assets and payment of debt service. <br /> <br />All municipal utility funds will maintain adequate cash reserves. The <br />reserve needs vary for each municipal utility. The assessment of cash <br />reserves should take into account future capital investments, diversity and <br />stability of revenues and potential for unanticipated changes in revenues <br />and expenditures. <br /> <br />All utility rates should be reviewed every two years to minimize the <br />impacts of rate changes and to insure adequate long-term funding. <br /> <br />3.6 The Municipal Electric Utility will make an annual contribution to the <br /> <br /> <br />