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Financial Policies
The Budget Review Board reviewed and updated the City's fiscal polices during 2010 commencing with their recommendations to the City Council. These policies cover revenues, expenditures, debt, investments, and policy minimums for reserves. The City Council adopted these policies in January 2011.
As a result of the fiscal year ended June 30, 2011 and in conjuction with the new GASB 54 pronouncement, these polices were updated and later adopted at the January 17, 2012 City Council meeting.
On June 7, 2016 the policies were again updated to incorporate a higher reserve requirement for the Water Fund based on the volatility of associated revenues and past Fund experience.
Download a copy of the fiscal policies below.
