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<br />Strategic Opportunities and Challenges <br /> <br /> Continued efforts will be required to refine, update and implement our long-term financial <br />strategies, such as the long-term capital assets financing plan for replacement of our <br />vehicles and equipment as part of the Fleet and Non-Fleet plans, and the Pavement <br />Management plans. <br /> BS&A financial software implemented in April of 2016 continues to require fine tuning, <br />programing, and learning over the next year. <br /> Financial sustainability has been identified as a priority of the City Council. Several <br />Council initiatives and directives have been identified to help obtain this goal. Continued <br />monitoring and analysis is required to ensure each of these initiatives are achieved. <br />o Desired general fund balance reserve level of 40 to 45 percent of the subsequent <br />year’s operating expenditures <br />o General fund non-tax revenue equal or greater than 40% of the general fund <br />expenditures <br />o Standard and Poors (S&P) bond rating equal or better than AA <br />o Limiting debt levy to less than 15% of the total tax levy <br />o Providing a Capital Improvement Plan to ensure funding availability for future <br />scheduled projects <br />o Obtain debt free streets by the year 2025 <br />o Continued increased reserves in the Community Reinvestment Fund <br />25