The following revenue policies are hereby adopted and shall be followed in the administration of the business of the village:
(A) The village shall endeavor to develop and maintain a diversified and stable revenue base to shelter it from short term fluctuations in any one revenue source and to minimize, to the extent possible, the burden on individual taxpayers.
(B) The village comptroller's office will estimate annual revenues on an objective, reasonable, and conservative basis, with most revenues to be estimated based upon a historical trend analysis while major revenues are to receive a more in depth analysis which also considers the current economic factors.
(C) The village economic development office will actively seek state and federal grants.
(D) Water, sewer, and commuter parking lot funds will be examined annually by the village board finance committee in order to assure that they are self-supporting.
(E) All charges for services, fees, licenses, permits, etc., will be reviewed at least annually by the village board finance committee to ensure that rates are maintained at a level that is related to the cost of providing the services and are competitive with others providing similar services in the area.
(F) Water and sewer rates will be reviewed annually by the village board finance committee and set at levels adequate to meet both ordinary and replacement expenditures for the next year.
(G) Connection fees for water and sewer services shall be reviewed annually by the village board finance committee in conjunction with the five (5) year capital improvement program to assure that fees are set at rates adequate to cover the cost of extending services to new or improved developments.
(H) Onetime revenues will not be used to support operating expenditures, unless such revenues are given for that purpose (e.g., donation for a firetruck). (Ord. 2015-13, 10-1-2015)