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Cityj Louisville FINANCIAL POLICIES COLORADO • SINCE 1878 Revenue Policies Policy Section: 4 Adopted by Resolution No32 --, Series 20 16 Effective Date: Purpose and Scope The City of Louisville collects revenue from various sources, the largest of which are from sales and use taxes, utility fees, property taxes, and intergovernmental revenue. The structure, equity, fluctuation, and collection of revenue are important for financial stability and are reviewed by bond rating agencies to determine the City's credit quality. Policies 4.1 Diversification and Stabilization. The City will strive to maintain a diversified and stable revenue system to reduce the overall effects of fluctuations in any one revenue source. 4.2 Equity. Revenue will be derived from a fair, equitable, and adequate resource base, while minimizing tax differential burdens. Services having a City -wide benefit shall be financed with revenue sources generated from a broad base, such as sales taxes and property taxes. Services where the customer determines the use shall be fully or partially financed with user fees and charges related to the level of service provided. 4.3 Collections. The City will monitor all taxes, fees, and charges to make sure they are equitably administered and collections are timely and accurate The City will pursue collection of delinquent amounts (including related penalties and interest) as authorized by the Louisville Municipal Code. 4 4 Recurring and Non - recurring Revenue. The City's objective is to fund all recurring expenditures with recurring revenue. Non - recurring, one -time revenue should be used to fund only non - recurring, one -time expenditures. The preferred use of non - recurring revenue is to invest in projects that will result in long -term operational cost savings. 4.5 Intergovernmental Revenue. The City will pursue intergovernmental aid, including grants, for those programs and activities that address a recognized need and are consistent with the City's goals and objectives, and will attempt to recover all allowable costs associated with those programs. The City will avoid using grants for ongoing service delivery needs. Any decision to pursue intergovernmental aid should only be made after consideration of the present and future funding requirements, costs of administering the funds, costs associated with special conditions or regulations attached to the aid, and ongoing operational costs after the aid period.