Page 60 - Honorable Mayor and Members of the City Council

resources are available to invest in community priorities. To protect long-term financial stability, the City is
committed to:

1. Continually strive to diversify its tax base.
2. Conservatively estimate revenue receipts.
3. Fund core services through reliable, predictable revenue sources.
4. Predicate expenditures on need, not revenues.
5. Utilize additional revenue sources prudently.
6. Place a minimum of 70% of all future sales tax revenue increases in a separate fund for major, pay-
as-you-go projects.
7. Place 100% of all proceeds derived from gas and oil land lease including lease bonus and royalties in
a separate fund for major, pay-as-you-go projects.
8. Require a super majority of City Council for use of sales tax fund and gas and oil lease royalties fund
revenues.
9. Maximize grant funding.
10. Maintain a cash reserves policy of at least 3 months operating expenses.
11. Keep total annual debt service payments below 20% of the City budget.
12. Continue “pay-as-you-go” when possible.
13. Regularly update the City's long-range financial plan.
14. Maintain a high quality bond rating.
15. Hold the line on the current property tax rate and reduce future tax rates as prudent and possible.

Professional Staff

Through market competitive compensation/benefits and a quality work environment, the City of Benbrook will
recruit and retain only the most qualified, professional employees for City service.

CITY OF BENBROOK 2018-19 ANNUAL BUDGET
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