The revenue policies are designed to ensure 1) diversified and stable revenue sources, 2) adequate long-term funding by using specific revenue sources to fund related programs and services, and 3) funding levels to accommodate all Township services and programs equitably.
The Township will maintain a diversified and stable revenue system in order to avoid short-term fluctuations in a single revenue source.
The Township will conservatively estimate its annual revenues by an objective, analytical process. All existing and potential revenue sources will be re-examined annually.
The Township will use one-time or special purpose revenue for capital expenditures or for expenditures required by the revenue, and not to subsidize recurring personnel, operation and maintenance costs.
The Township will establish all fees and charges at a level related to the cost of providing the services, or as adjusted for particular program goals. Each year, the Township will review the full cost of activities supported by fees and charges to identify the impact of inflation and other cost increases and will review these fees and charges along with resulting net property tax costs with the Town Board at budget time.
The Township will seek a balanced tax base through support of a sound mix of residential, commercial, and industrial development.
The Township will set enterprise fund fees at a level that fully supports the total direct and indirect cost of the activity (net of any grants or similar revenues), including depreciation of capital assets and debt service, to maintain a positive cash flow and provide adequate working capital. Replacement (or bonding for replacement) of enterprise infrastructure will be paid for from accumulated (or annual) earnings of the particular fund.
The Township will offset reduced revenues with reduced expenditures.