Principles of Responsible, Accountable Government
- Maintain a balanced budget.
- Maintain a AA bond rating.
- Fully fund our pension liability including full implementation of the state’s pension reform whereby employees pay approximately one-third of their pension costs.
- Borrow money only for capital projects and borrow under strict debt limitations.
- Maintain Reserves
- 12% undesignated fund balance
- Reserve for capital projects
- Rainy Day Reserve (for unforeseen circumstances)
- Stafford Opportunity Fund (for economic development projects)
- Report weekly to the Board on costs savings and efficiencies
- Estimate revenues very conservatively.
- Spend less than adopted budgets.
- Maintain lowest per capita expenditures among peer localities
- Monitor expenses/revenues weekly.
- Consistently use innovative practices to run government as efficiently as possible.
- Provide monthly financial report to the community (via the Board’s statistical report and the Board’s Finance, Audit and Budget Committee’s newsletter).