Page 22 - City of Watauga FY22 Adopted Budget

BUDGET-IN-BRIEF

Policy Issues, Goals, and Objectives for FY2021-2022

The FY2021-2022 budget is designed to continue the City’s programs to (a) provide
efficient operations, (b) maintain basic and essential service levels, and (c) achieve City
Council Goals. Specifically, the following policies are to be observed:

• Essential government services are to be provided at a level equal to or better than
the level previously provided.

• All services are to be constantly examined to ensure that they are provided in an
efficient and effective manner and that unnecessary services are eliminated.
To ensure that City Council Goals are achieved, performance-based programs were
implemented and are monitored. Under this program, each City department head is
required to identify several performance objectives consistent with City goals and
maintain performance indicators, which will measure progress toward the achievement of
stated objectives. This process is reviewed and updated annually for inclusion in the
budget document. Each department’s progress in measuring their goals is reviewed and
monitored throughout the budget year.

The FY2021-2022 balanced budget does have some planned draw down of fund balance
within the guidelines of the financial policy. All funds are planned to carry sufficient levels
to protect the creditworthiness of the City and financial position from emergencies.

The General Fund has an imposed target of 25% of operating expenses. For FY2020-
2021 the General Fund ending balance is projected to be at 48% of operating expenses
at year-end. We expect to end FY2021-2022 with a balance of 41% of operating
expenses.

BUDGET HIGHLIGHTS – ALL FUNDS

Revenues from all funds total $35.5 million in comparison to last year’s $32.8 million.
Property and Sales tax make up 44% of all revenues, followed by charges for services at
32% of all revenues.

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