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• • 3. Use of One-time Revenues -A jurisdiction should adopt a policy(s) discouraging the use of one-time revenues for ongoing expenditures. (NACSLB Practice 4.4) 4. Use of Unpredictable Revenues -A jurisdiction should adopt a policy(s) on the collection and use of major revenue sources it considers unpredictable. (NACSLB Practice 4.4a) Expenditure Policies The expenditures of jurisdictions define the ongoing public service commitment. Prudent expenditure planning and accountability will ensure fiscal stability. At a minimum jurisdictions should have policies that address: 1. Debt Capacity,Issuance, and Management-A jurisdiction should adopt a policy(s)that specifies appropriate uses for debt and identifies the maximum amount of debt and debt service that should be outstanding at any time. (NACSLB Practice 4.3, 4.3a, GFOA Recommend Practices pp.90-92) 2. Reserve or Stabilization Accounts-A jurisdiction should adopt a policy(s) to maintain a prudent level of financial resources to protect against the need to reduce service levels or raise taxes and fees due to temporary revenue shortfalls or unpredicted one-time expenditures. (NACSLB Practice 4.1)34 • 3. Operating/Capital Expenditure Accountability-A jurisdiction should adopt a policy(s)to compare actual expenditures to budget periodically(e.g., quarterly) and decide on actions to bring the budget into balance, if necessary. (NACSLB Practice 7.2) References. • National Advisory Council on State and Local Budgeting. Recommended BudgetPractices:A Framework for Improved State and Local Government Budgeting. GFOA1998. • A Guide for Preparing a Debt Policy, Patricia Tigue, GFOA, 1998. • GFOA Recommended Practice. "Setting of Government Charges and Fees" (1996). • "Elements of a Comprehensive Local Debt Policy," Government Finance Review, October 1994. • "Developing Formal Debt Policies," Government Finance Review, August 1991. 3 See also GFOA's recommended practice on Business Preparedness and Continuity Guidelines(2005). • 4 See also GFOA's recommended practice on Appropriate Level of Unreserved Fund Balance in the General Fund(2002).