Page 164 - NRH FY20 Approved Budget

DEPARTMENT / DIVISION FUND
CITY COUNCIL – ADMINISTRATION GENERAL
PROGRAM NAME
FINANCIAL STABILITY
DESCRIPTION / MISSION
During the Goals Setting Work Session, the City Council establishes goals for the City of North Richland Hills. Financial Stability
entails creating a self sustaining local economy, diversifying the tax base, attracting high quality businesses along major corridors,
maintaining the tax rate, maintaining a good bond rating, maintaining strong fund balances, maintaining reserves for capital
projects, providing cost effective and quality delivery of quality services and effectively utilizing community resources.

GOALS
• To continue pay-as-you go where possible.
• To maintain a stable tax rate and predictable income stream.
• To update the long-range financial plan annually.
• To maintain cash reserve policies.
• To maximize grant funding.

OBJECTIVES
• Evaluate the ability to pay-as-you-go versus financing of capital expenditures, using cash when available and practical.
• Continue aggressive debt payment structure to ensure a manageable debt property tax rate.
• Regularly monitor financial markets for opportunities to refinance existing debt to save interest expense.
• Evaluate the effect of all operating and capital expenditures on the property tax rate and user fees.
• Continue to maintain/build cash reserves.
• Seek grant funding where feasible for all departments.
• Identify all possible revenue sources for existing and proposed programs.
• Explore and implement funding alternatives for proactive land acquisition and management.
2017-18 2018-19 2019-20
PERFORMANCE MEASURES ACTUAL REVISED ESTIMATED
Bond rating from Moody's AA2 AA2 AA2
Bond rating from Standard & Poor’s AA+ AA+ AA+

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