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9 Item Description: Aft 1rin Budget and Finaficial Policies <br />10 <br />I <br />12 Introiducti I on <br />.3 During the 2008 Budget process the City Council adopted by resolution, six (6) separate budget <br />14 and financial policies that served as a guide in formulating the budget. They included: <br />15 <br />16 a) Operating budget policy <br />17 b) Capital improvement pol 'icy <br />18 c) Debt policy, <br />19 d) Revenue policy <br />20 le) Capital rep laceiiient policy <br />21 Operating fund reserve policy <br />22 <br />23) Copies of these policies are attached. <br />24 <br />25 Discussion Items <br />26 Staff conterilds that these policies remain in effect until they are amended by some formal <br />'27 Council action., Staff is D recommending any changes at this time. However, we feel it is <br />2,8 appropriate for these policies to be reviewed as part of the annual budget process. They are <br />2,9 included for *Information purposes only. <br />0 <br />I Council Action Requested <br />32 No action is being requested. However, if desired,, direct Staff to schedule a discussion of these <br />33 policies at a future Council meetiiig. <br />31 4 <br />