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Policies <br />(con't) <br />19. Water and sewer capital <br />revenues will not be used to <br />pay for operating expenses. <br />They will be used solely for the <br />water and sewer systems <br />improvements and system <br />expansion. <br />Operating Budget Policies <br />20. The city will maintain a <br />budgetary control system to <br />ensure compliance with the <br />budget. The city will prepare <br />monthly status reports and <br />quarterly financial reports <br />comparing actual revenues and <br />expenditures to budgeted <br />amounts. Where practical, the <br />city will develop performance <br />measures to be included in the <br />annual operating budget. <br />21. The city will provide for <br />adequate maintenance of <br />capital plant and equipment, <br />and for their orderly <br />replacement thereof. <br />22. The city will strive to pay <br />prevailing market rates of pay <br />to its employees. Prevailing <br />market rate is defined to <br />include both salary and fringe <br />benefits. <br />23. The city should not incur an <br />operating deficit. <br />24. The city will pay for all current <br />expenditures with current <br />revenues. The city's General <br />Fund budget will not be <br />balanced through the use of <br />transfers from other funds, <br />appropriations from fund <br />balances or growth revenue <br />such as service expansion <br />fees. <br />25. The city will project <br />expenditures annually for the <br />next five (5) years. Projections <br />will include estimated operating <br />costs of future capital <br />improvements that are included <br />in the capital improvement <br />budget. <br />26. The administrative transfer fee <br />from the utility funds to the <br />General Fund is a payment for <br />services provided by the <br />General Fund. The amount of <br />each year's transfer fee will be <br />based on the estimated <br />General Fund expenditures <br />that are utility related. <br />27. The city's Water and Sewer <br />Funds will pay the General <br />Fund a franchise fee for the <br />utilization of public streets and <br />rights of ways. The fee will be <br />a percent of the operating <br />budget year's projected <br />revenues. <br />Reserve Policies <br />28. The city shall establish reserve <br />funds to pay for needs caused <br />by unforeseen events. The <br />reserve shall be held to help <br />with the following three events: <br />(1) CATASTROPHIC <br />RESERVES, to provide limited <br />emergency funds in the event <br />of natural or man-made <br />disasters, (2) OPERATIONAL <br />RESERVES, to provide <br />12 <br />