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���i�► ' . �.�� <br />� � � � <br />�� i <br />2 '�o: Mayor and City Cout�cil <br />3 Bill Malinen, City Maiaager <br />4� From: Chris Miller, Finance Directa� <br />5 Date: Ma� 14�, 200"� <br />6 Re: Con�inue Disc�ssion nn City Budgei and �`inancial Policies <br />Date: S/14/07 <br />�tem: 5.g <br />Budget Pol�eies/Resalutions <br />Operatfng Fund Reserve Pc�licy <br />9 <br />10 <br />�l <br />12 <br />x3 <br />l.4 <br />15 <br />lb <br />1'� <br />18 <br />19 <br />2D <br />21 <br />22 <br />23 <br />24� <br />25 <br />26 <br />2'7 <br />28 <br />29 <br />Introductio� <br />At t�e April 23, 200"1 City Cou�cil rr�eeting, the Council revised a number of l�udget amd <br />�'inancial policies which will help guide �e 2�08 Budget. The revis�d policies are attached an <br />markup lang�zage ar�vaiti�g final Counci� �review. The one policy that �:h� Council �elt warranted <br />separate az�d ex�tend�d d'zscussion vvas the City's 4perating Fuz�d Reserve Palicy. A discussion <br />on this policy has been scheduleci separately. <br />The revised polices aare show� be�ar� and incl�de: <br />a) Operating budget po�icy <br />b) Capital zmprovernerzt policy <br />c) Debt policy <br />d) Revenue policy <br />�) Asset replacernent pa�icy <br />4nee the Co�cil k�as agreed o� the final policy �anguage, it is reco�mended that the added step <br />of £ormally adopti�g these po�icies by resnlu�ion be taken. These policies �vill then be used as a <br />guide i� �he annua� budget process, anc� will ensure thai the even�ual City Matcager <br />Recoma�ended Bud�et is in con�o�az�ce with tl�e Cou�zeil's budget strategy and direc�ion. <br />To �:hat end, eac� policy is s�awn below accompaniecl by a� enabling resolution. <br />