Description
Title: Revisions to City Council Policy 1-18, Operating Budget and Capital Improvement Program Policy.
Summary
The San Jose City Council is revising Council Policy 1-18, specifically Section 17, focusing on fees to enhance cost recovery and revenue sufficiency. This resolution addresses recommendations from various audit reports aimed at improving financial management in the city, particularly regarding sewer rates and development reserves. The revisions emphasize transparency and accountability while considering the financial impact on ratepayers. Key elements include guidelines for setting fees at or close to full cost recovery for services, with an annual review process to ensure alignment with community needs and city goals. This legislation is significant as it aims to stabilize the city's budget, ensure fair service costs, and enhance public trust through improved governance.