Page 53 - Benbrook FY2021

- including significant commercial growth; and strong financial management practices and, what Standard and Poor’s considers, very strong
general fund reserves.

As noted, the 2020-21 Budget does lower the City's property tax rate to $0.6225 per $100 valuation. The Budget provides for specific
services (building permits, licenses, zoning applications, ambulance services, and other permits and services) to be paid by the users of those
services through fees, permits, and service charges. Revenue collections from these fees are projected based on 2020-21 fee structures. Cost
recovery ratios are anticipated to remain constant.

Expenditures are funded at a level to maintain and/or improve the quality of service that has been provided to the public in the past. Emphasis
is still placed on maintaining a low ratio of employees to citizens by continually upgrading the quality of the work force and the equipment
needed to accomplish the required tasks.

FINANCIAL GOALS IN CORE VALUE STATEMENT

The Core Value Statement includes fifteen goals to insure financial stability. These goals are:

To continually strive to diversify the City’s tax base.

To conservatively estimate revenue receipts.

To fund core services through reliable, predictable revenue sources.

To predicate expenditures on need, not revenues.

To utilize additional revenue sources prudently.

To place a minimum of 70% of all future sales tax revenue increases in a separate fund for major, pay-as-you-go projects.

To set aside 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.

To require a super majority of City Council for use of sales tax fund and gas and oil lease royalties fund revenues.

To maximize grant funding.

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