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Charlottesville's tax and fiscal policies must be coordinated <br /> <br />with the needs for performing its functions of government and pro- <br /> <br />siding essential facilities, services and public improvements. Its <br /> <br />operating budgets and capital improvement budgets are kept separate <br /> <br />and apart from each other. Its operating budgets are based upon <br /> <br />performance of defined work programs providing services and facili- <br /> <br />ties and must be balanced against anticipated revenues. Capital <br /> <br />public improvements are provided for through its capital budgets. <br /> <br />No expenditures can be made for any other purpose nor exceed appro- <br /> <br />priations made for specific improvements unless authorized by the <br /> <br />Council. Bonds issued by the City to finance such improvements are <br /> <br />well within the limitations imposed upon such indebtedness by the <br /> <br />Constitution or by the City charter. The City enjoys the benefit <br /> <br />of an AAA financial rating in the bond markets and accordingly is <br /> <br />able to market its bonds at attractive rates or interest and <br /> <br />generally considerably below those required to be paid by the County. <br /> <br />The City has the power, ability and resources to execute the policy <br /> <br />of the Commonwealth by absorbing the urban area in the County and <br /> <br />those which can be developed for residential and industrial uses <br /> <br />within its municipal government. <br /> <br />The consolidation of the territory sought to be annexed with <br /> <br />the City, and the coordination and intergration of its resources <br /> <br />with those of the City will enable the metropolitan area to function <br /> <br />as a unit under a form of government designed to meet the needs of <br /> <br />a growing industrial and residential center. <br />