5. Improve Town’s Fiscal Condition
Diversify revenue sources
consistent with Town values to reduce pressure on residential property tax;
identify and pursue internal operating efficiencies; and develop a strategic
financial plan for long-term sustainability.
Assumptions
- To be determined
Strategies & Strategy Areas
- Optimize current revenue sources, e.g., fees, vehicle tax
- Identify and seek new sources from General Assembly
- Initiate discussion on services/costs/revenues with county, towns, & UNC-CH
- Establish a coalition with other town-gown and resort communities to share and compare practices, strengthen lobbying
- Optimize return on town investments
- Determine if and when we should self-insure
- Identify how technology can help make services and operations more efficient
- Review current
processes and identify best practices, e.g., workload scheduling and overtime,
collection rates (fees, citations, penalties)
Seek savings through opportunities to consolidate functions and purchasing policies, e.g., fleet, cell phones - Continue organizational realignments to increase communication and efficiency
- Debt management
policy and capital formation to stabilize tax rate
Develop and pursue economic development through identifying appropriate targets and methods - Develop cumulative
impact tool for analysis of new development
Priority Project/Initiative
- To be determined
Key Indicators
- To be determined