Page 310 - City of Watauga FY22 Adopted Budget

The City is committed to fiscal sustainability by employing long-term financial planning
efforts, maintaining appropriate reserve levels, and employing prudent practices in
governance, management, budget administration and financial reporting. Below is the
General Fund Debt Payment Schedule for all current issuances. As debt drops off,
other projects may be funded through debt issuance that are identified in the City’s 5-
year Capital Improvement Plan and Capital Outlay Plan.

Debt levels and their related annual costs are important long-term obligations that must
be managed within available resources. A disciplined, thoughtful approach to debt
management includes policies that provide guidelines for the City to manage its debt
consistent with available and reasonably anticipated resources. The City’s debt
issuance is related to the Capital Improvement Plan and Capital Outlay Plan, as well as
cash reserves, and possible grant funding for those programs. The City strives to
maintain a level funding plan that will minimize the peaks and valleys in General Fund
support levels and allows the funding of projects over time.

301