ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 11
must either annex into the City or sign an annexation agreement with the City to develop in
accordance with the City standards.
Long-term financial planning
Major Initiatives
During fiscal year 2020, several major projects were completed or started that will transform the
City going forward. Listed below are items of interest.
The City has a Police Department vehicle replacement program for vehicles over seven
years with a cost benefit analysis of functionality verses service and repairs. This year
the City acquired five Ford Interceptors and two Ford Fusions with funds provided by the
sales tax project.
The City provides economic incentives for the construction of multi-family, mixed use,
and/or non-residential property within the Community Redevelopment Area (CRA), as
well as in all other areas of the City. Projects with a value of more than $500,000 are
eligible. The incentive is 2% of the construction value with a maximum of $30,000. If
the project is within the CRA, an additional 2% may be used with a maximum voucher of
$60,000. The credit vouchers may be applied to the cost of impact fees, building permits,
and other city fees associated with the new construction. Recently, the program provided
incentives to the construction of the Valencia Grove housing project.
The City finished a major overhaul of the Ferran Park which is the premiere park in the
City. This park holds numerous events including Georgefest, Buskers, Bike Rally &
Music Fest, and Christmas walk.
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Upgrades of major equipment needs such as major equipment replacements, water and
sewer line upgrades, storage tanks and engineering for the wastewater treatment facility.
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Each year the money is set aside to address the constant need for upgrades to the
streets, sidewalks and other infrastructure needs of the City.
The City will achieve its mission to create a superior quality of life by engaging and partnering
with the community to provide financially prudent and customer friendly services through
efficient organization and utilization of resources
Awards and Acknowledgements – The Government Finance Officers Association (GFOA)
awarded a Certificate of Achievement of Excellence in Financial Reporting to the City for its
Comprehensive Annual Financial Report for the fiscal year ended September 30, 2019. This
was the 32nd consecutive year that the City has received this prestigious award. In order to be
awarded a Certificate of Achievement, the City published an easily readable and efficiently
organized annual report. This report satisfied both GAAP and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. Staff believes that the current
annual report continues to meet the Certificate of Achievement Program’s requirements, and will
submit it to the GFOA to determine its eligibility for another certificate.
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