“The City” your
Municipal Corporation
“The
City” is a community of people living together. As
a resident of this community receiving services and paying
taxes you are a shareholder. In effect,
"The City" is a "Municipal Corporation" formed to manage the
finances of community government. The
policies and priorities of this Corporation are determined by a Board
of
Directors, the City Council, your elected community representatives. The intent of the Corporation is to provide
services, and a responsibility of the elected Board is to keep the
Corporation
financially solvent.
Taxes
and service fees provide the funds required to provide the essential
services
which can not economically or practically be provided for on an
individual
basis (i.e., water & sewer infrastructure, road construction and
maintenance, fire protection services, police protection services, and
the
administration required to hold it all together.)
As
share holders in the "Municipal Corporation" we have the
responsibility of funding the construction and maintenance of community
buildings and infrastructure. We elect
officials who we believe will promote our interests, and we entrust
them to
make decisions which best meet the needs of the whole.
The “Municipal Corporation” is a business
entity that belongs to the community.
When the community wants a new library, animal shelter, City
Hall, Town
Center, etc., the Corporation is charged with figuring out how to make
it
happen.
The
“Municipal Corporation” requires a secure financial foundation to
qualify for
the major funding which is required for development.
To qualify for Federal funds, The “Municipal Corporation” is
required to provide “matching” funds which provide a good-faith
financial commitment
to operate and maintain the project after it is completed.
When
grant and loan revenue sources are used to construct these projects
they do not
include funds for the operation and maintenance after they are
completed. The operation and maintenance
expenses,
which continue far beyond the construction of the facility, are the
responsibility of “The City ".
The
“Municipal Corporation” is just a management tool which provides a
mechanism
for collecting the funds required to maintain the infrastructure
constructed
with the supporting vote of the community.
Keep in mind that the only revenue sources available to the
“Municipal
Corporation” are taxes and service fees.
In
addition to the expenses incurred by NEW projects, there remain the
expenses
resulting from the OLD projects.
Additionally, there are the general “cost of doing business”
expenses
like insurance, staffing, and equipment.
Just as the cost of maintaining a home is increasing, the costs
of
maintaining the assets of “The City” are increasing.
Just as your fuel prices, insurance premiums and other bills are
going up, so are those of “The City” and those employed by “The City”.
When
you, shareholders in the community, require additional income to
maintain your
personal lifestyle, it should not be surprising that the “Municipal
Corporation” would also need additional income to maintain services. When the value of properties increases,
property taxes can be kept at the same level and still produce an
increased
natural revenue stream to assist in paying the raising expenses
incurred with
increasing costs and a growing infrastructure.
Generally speaking, when the value of property is going up,
there tends
to also be growth taking place, which in itself adds additional service
needs
and strain on the infrastructure.
To
ensure the maintenance of the facilities and programs enjoyed by the
community,
it is the responsibility of the Council to exercise forward thinking
and
develop the appropriate revenue streams and reserve funds to meet the
needs of
“The City” today and long into the future.
The success of the “Municipal Corporation” depends on the trust
of
shareholders in the ability of the elected management (Council) to
adequately
plan; collect and invest funds to meet the immediate maintenance
requirements;
and obtain the ultimate future vision for our community.
So,
the next time you say or think “The City ought to . . . “, look in the
mirror
and say "we ought to …… ".
The
Council will be hosting an open forum in the near future to provide
further
information on the current financial position of your “Municipal
Corporation”
and to address questions you may have.
GET INFORMED AND GET
INVOLVED
IT IS YOUR FUTURE!