Orange County NC Website
Browse       Search
Current State <br />The City is focused on developing a budget and financial position that is commensurate <br />with a community transitioning from a small town to a new-urbanism city that accentuates <br />its natural features. In developing the budget and the City’s financial plan, the objective is <br />to create a sound financial and operational plan that addresses the City’s priorities while <br />continuing to provide resources to evolve, grow and support demand for services and <br />enhanced quality of life. In order to maintain fiscal responsibility, the City will create a <br />financial sustainability policy that utilizes the growth from annexations and commercial <br />construction to reduce the overall tax burden on residents. Budget increases and timing <br />will be crucial to the development of future budgets and long-term financial health. <br />Goal Statement <br />Achieve financial health while prioritizing the needs of today without sacrificing the <br />ability to meet the needs of future generations. <br />Objectives <br />1.Align the City’s budget with the Strategic Plan to support achievement of the goals <br />and vision. Core Values: Intentionality, Connectivity <br />2.Develop a debt management program incorporating those attributes of Strong Towns <br />principles that are aligned with the city’s Strategic Plan and priorities. Strong Town <br />finance principles state that having more assets than liabilities, in addition to capably <br />paying off debt, is a prerequisite for a city’s long-term prosperity. Strong Towns must <br />evaluate the long-term and short-term costs to maintain the success of proposed projects. <br />Core Value: Intentionality <br />3.Create a standardized fiscal analysis that measures projects’ fiscal impacts equipping <br />City Council and leadership to make informed decisions when establishing the annual <br />City Budgets. Core Value: Intentionality <br />4.Maintain fiscally responsible tax rates by diversifying the tax base, achieving a healthy <br />balance between land uses, incentivizing development consistent with our vision, and <br />applying user assessments to better address specific services such as stormwater, <br />transportation, conservation, and public safety. Core Value: Intentionality <br />5.Recognizing that Groveland is a safe place, continue to financially prioritize the <br />core services and public safety. Core Value: Intentionality <br />STRATEGIC PRIORITY <br />12 <br />Financial Health <br />DocuSign Envelope ID: ED255D72-EB5F-464C-83B6-643F4B19812A