Page 89 - CityofMansfieldFY23Budget

SERVICE PROGRAM
FISCAL YEAR 2022-2023

MAJOR GOALS MAINTAIN FINANCIAL STABILITY

Core Value: Healthy Economy

Goal Department Actions

Issue debt only in amounts approximate to debt The City Manager’s Office and Shared Services
being paid off. Division will maintain and work to improve
current debt ratios while continuing to exceed
the current fund balance policy of 25% of
operating expenditures. The City will maintain
its AAA bond rating. General Obligation Debt
will be prepaid in FY 2022-2023 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. City Council voted to reduce the tax rate from
$0.69 to $0.68 and increase the current 10%
homestead on residential properties to 12%
with intentions of incrementally increasing the
homestead exemption each year as the City’s
fiscal position allows.

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.

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