Page 50 - Benbrook FY20 Approved Budget
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CITY OF BENBROOK 2019-20 ANNUAL BUDGET
Services, Programs and Projects
The City of Benbrook will provide services, programs and projects that enhance the quality of life by assuring that:
1. Public safety is emphasized.
2. City infrastructure is well maintained.
3. Recreation and cultural opportunities are abundant.
4. Development and growth are orderly and strategic.
5. Neighborhoods and business corridors are attractive, clean and safe.
Financial Stability
The City of Benbrook is committed to providing the best value for taxpayer dollars and to ensure that financial 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.
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