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ATTACHMENT G Summary of Financial Goals and Policies to Guide Funding of the Civic Center Vision The Budget Committee has adopted a set of policies to ensure the financial integrity of the or- ganization and to ensure that the service delivery system addresses the needs and intentions of Eugene's citizens. Prudent management of Eugene's financial resources allows for the continued ability to provide municipal services, both operating services and infrastructure maintenance and enhancement. There are five financial management goals adopted by the Budget Committee, the majority of which are relevant to the discussion of a Civic Center financing plan: 1. to establish and sustain a community supported service system; 2. to have a capital improvement program that adequately maintains and enhances the public's assets over their useful lives; 3. to provide cost effective services to citizens; 4. to provide financial and other service information to enable citizens to assess the costs and results of City services; and 5. to follow prudent and professional financial management practices to assure residents of Eugene and the financial community that our City government is well managed and in sound financial condition. The City's Financial Management Goals and Policies provide policy direction on the develop- ment of funding plans for large capital assets, such as those included in the Civic Center vision. A summary of how these policies would guide development of a funding plan for major infra- structure projects is set out below. Priority and Adequate Funding for Fixed Assets Several of the policies address the prioritization and adequate funding of the City's fixed assets (A.4, A. 5, B.8, D. 1, D.6). In their entirety, these policies state that adequate funding of the City's fixed assets is a very high priority for the organization, second only to preservation of the public safety system. Recognizing that the replacement of fixed assets is usually very costly, the policies also address the need to develop a plan for and to actively fund the replacement of those assets over a multi-year period. Development of a Civic Center financing plan that is adequately funded should be a high priority according to the City's financial policies. 23