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8.00% 6.00% 4.00% 2.00% 0.00% -2.00% -4.00% -6.00% -8.00% -10.00% -12.00% Surplus/Deficit % of Operating Revenue (GF) 6 | 2016 Strategic Plan Progress Report Financial Sustainability Major Challenge Areas 1. Financial Sufficiency and Sustainability (Utility Services) • Negotiated improved water rates and operational flexibility with Basic Water Company. • Debt service coverage ratio on target to be greater than 1.25 for the year. • Operating costs on target to be equal to or less than the prior year cost increase by 3 percent. • Operating revenue to expenditure ratio on target to be equal to or greater than 1.0. • Ensured continued financial sufficiency and stability by leveraging minimal rate increases to address increasing operating, maintenance, and capital costs. 2. Financial Sustainability (Finance) • Participated in the coordination of local governments, communication to elected officials and development of alternative solutions for revising the current secondary property tax cap calculation. • Completed the ranking of city programs and established triggers for implementing contingency planning. Document is 40 percent complete. • Restructured Redevelopment Agency bonds, resulting in $721,000 cash flow savings, extending the life of the bonds. • Saved over $456,000 through contract consolidation and sale of surplus business equipment/supplies. $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 3. City Agreement Tracking Process (City Attorney) • Implemented an interim notification system whereby departments are alerted when an executory agreement reaches a milestone or deadline date. -14.00% $0 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 Annual General Fund Revenue Surplus/Deficit % of Operating Revenue (General Fund)


16-349114_Strategic_plan_progress_report_E_Book
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