How does the City plan its budget for Enterprise Funds?

In consultation with the Public Works Director, Utility and Solid Waste managers develop operational and capital budgets required to meet their needs. These needs are then vetted with the City Manager before being presented to the Council as the recommended budget. Through detailed budget analysis including an update of the 10-year financial plan by staff and rate design by consultants, revenue requirements are determined and a rate increase proposed to Council to support the recommended budget. The Council reviews the anticipated revenues and expenditures for the funds along with the rate increase. Through the process of three ordinance readings at Council meetings, plus a public hearing, new rates are implemented as necessary to properly maintain the integrity of the water, wastewater, and solid waste infrastructure.

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1. What is the General Fund?
2. What are the primary General Fund revenue sources?
3. What is the 4th Cent Sales & Use Tax and how is it allocated?
4. What is the 5th Cent Sales & Use Tax (local option) and how is it allocated?
5. We have a 6th cent specific purpose tax (1% SPT local option) in Albany County. Why don’t I see it in General Fund revenue sources? How is this tax being managed?
6. How much debt can the City carry?
7. What are the current types of general fund debt and the terms associated with the debt?
8. What is an Enterprise Fund?
9. What types of enterprise fund debt are held by the City and what are the terms associated with that debt?
10. What determines how much the City can spend?
11. What is the City’s Bond Rating?
12. What is Depreciation? How does the City manage it?
13. What are Fund Balance and Net Position?
14. What do the different components of fund balance mean?
15. What is a Modified Balance Sheet?
16. What are the Days of Operation Reserves?
17. What are the Recreation Center’s primary revenue sources?
18. What is the percent of Cost Recovery for the Recreation Center?
19. What is the Enterprise Fund Shared Services Transfer?
20. How does the City plan its budget for Enterprise Funds?
21. Are the revenues in the Enterprise fund only user fees?
22. How does the Financial Outlook Report differ from the Comprehensive Annual Financial Report (CAFR)?