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PRIORITY GOAL #5: IMPLEMENT NEW REVENUE INITIATIVES AND <br /> COST REDUCTION MEASURES DESIGNED TO MAKE DECATUR MORE <br /> FINANCIALLY SECURE AND ITS OPERATION MORE SUSTAINABLE <br /> SummarX of Goal #5: Like many other Illinois municipalities,the city of Decatur has <br /> experienced a steady decline in population as more people leave the State. This <br /> directly impacts several categories of General and Special Fund revenues, as well as <br /> revenues distributed by State and Federal governments to numerous social service <br /> agencies in Macon County. The city of Decatur's budget has structural flaws (unsus- <br /> tainable public safety pensions, declining equalized assessed values, service delivery <br /> plans based on a larger population, high amounts of deferred maintenance, etc.) that <br /> require the city to vigorously pursue operational efficiencies, find new revenue <br /> sources, aggressively pursue annexation to drive up census numbers, and revisit <br /> whether or not existing service-delivery levels should be maintained"as-is" or mod- <br /> ified to keep the city on a sustainable financial trajectory that can support this plan. <br /> Discussion &Strate�ies.The City Council tentatively approved the following <br /> strategies regarding this priority goal: <br /> 1. Develop a budget for FY 2020 that includes a plan for selective cost and <br /> service reductions that increase efficiencies without significant impact on <br /> current service levels. <br /> 2. Examine and implement as council directs new revenue streams that will <br /> offset the need for future spending cuts and slowly shift reliance away <br /> from properry and utility taxes.These include: <br /> a. Exploring city operation of a limited virtual electric utility <br /> b. Examining ways to monetize the large silt pile located east of the <br /> lake and created by the dredging project <br /> c. Expanding the use of the city's broadband fiber network to include <br /> commercial and for-profit customers <br /> d. Licensing Air-BnB, Lyft,Uber and other elements of the `sharing <br /> economy'; and adjust other fees to fit regional city norms <br /> e. Sale of surplus properties <br /> f. Creative development of other potential revenue streams, <br /> including review of current fees to see if they are up-to-date <br /> 3. Adopt new City Council budget and financial policies dealing with fund <br /> reserve goals,modern budget administration practices, cash <br /> management, debt issuance and investment policies, and other policies <br /> that will continue to demonstrate to investors,bond underwriters, <br /> citizens and other partners that Decatur is on a sound financial footing. <br /> 4. To keep property and utility taxes from increasing, aggressively pursue <br /> and adopt intergovernmental sharing, consolidation and co-op projects. <br />