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PRIORITY GOAL #5 <br /> Implement New Revenue Initiatives and Cost <br /> Reduction Measures Designed to Make <br /> Decatur More Financially Secure <br /> OVERVIEW: Like many other Illinois municipalities,the city of Decatur has experienced a <br /> decline in population as more people leave the State.This directly impacts several categories <br /> of General and Special Fund revenues,as well as revenues distributed by State and Federal <br /> governments to numerous social service agencies in Macon County. <br /> The city of Decatur's budget has structural flaws (unsustainable public safety pensions, <br /> declining equalized assessed values,service delivery plans based on a larger population,high <br /> amounts of deferred maintenance,etc.)that require the city to vigorously pursue operational <br /> efficiencies,find new revenue sources,aggressively pursue annexation to drive up census <br /> numbers,and revisit whether or not existing service-delivery levels should be maintained"as- <br /> is"or modified to keep the city on a sustainable financial trajectory. <br /> Key Implementation Strategies: <br /> 1. Develop FY 2022& FY 2023 budgets with plans for selective cost and service <br /> reductions that increase efficiencies without significant impact on service levels. <br /> 2. Examine and implement as council directs new revenue streams that will offset the <br /> need for future spending cuts and slowly shift reliance away from property and <br /> 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 lake and <br /> created by the dredging project <br /> c. Expand the use of the city's broadband fiber networks to include commercial <br /> and for-profit customers to increase customers paying receipts tax <br /> d. Streamlined licensing of Air-BnB,taxi-cab, Lyft, Uber,food trucks and other <br /> elements of the'sharing economy';adjust other fees to fit regional city norms <br /> e. Sale of surplus properties <br /> f. Creative development of other potential revenue streams,including review <br /> of current fees to see if they are up-to-date <br /> 3. Adopt new City Council budget and financial policies,revisit the council's fund <br /> reserve goals (move to 90-days),and other policies that continue to demonstrate <br /> to investors,bond underwriters,citizens and other partners that Decatur is on a <br /> sound financial footing. <br /> 4. To keep property and utility taxes from increasing,aggressively pursue and adopt <br /> intergovernmental sharing,consolidation,and co-op projects. <br /> Page 7 <br />