Page 85 - City of Mansfield FY22 Operarting Budget

SERVICE PROGRAM
FISCAL YEAR 2021-2022

MAJOR GOALS MAINTAIN FINANCIAL STABILITY

Healthy Economy

Goal Department Actions

Issue debt only in amounts approximate to debt The Office of Strategic Initiatives and
being paid off. Performance Management and the Business
Services Division will maintain and work to
improve current debt ratios while continuing to
maintain the current fund balance policy of
25% of operating expenditures. The City will
maintain its AAA bond rating. Debt will be
prepaid in FY 2021-2022 to realize cost
savings.

Ensure expenditures are in line with revenues. Maintain a balanced budget in all funds. Ensure
operational and staff additions do not exceed
budgeted projections or extend the City’s
ability to adequately provide for infrastructure
improvements in a growing local economy.

Create opportunity for expanded revenues. Review the current fee structure including
ambulance fees, developer fees and other fees
to generate additional revenue.

Limit the tax burden on taxpayers. In FY 2020-2021, the City Council voted to
reduce the tax rate from $0.71 to $0.69 and
instituted a 10% homestead on residential
properties. The FY 2021-2022 budget was
developed to keep the tax rate the same.

Continue to encourage economic development The City will encourage quality residential and
throughout the City. commercial development to ensure average
home values continue to rise and commercial
developments provide opportunities for citizens
to utilize retail establishments along the State
Highway 360 and U.S. HWY 287 corridors and
in the downtown area.

85