Laserfiche WebLink
Policy <br /> ❑ The City will pay for all current expenditures with current revenues. The City will avoid <br /> budgetary procedures that balance current expenditures at the expense of meeting future years' <br /> expenses. Specifically,accruing future year's revenues shall be prohibited. Practices to be avoided <br /> include postponing expenditures,rolling over short-term debt, and using reserves to balance the <br /> operating budget <br /> ❑ The operating budget will provide for adequate maintenance of capital plant and equipment,and <br /> for their orderly replacement. <br /> ❑ A proportionate share of the administrative and general government costs incurred by the general <br /> operating fund of the City shall be borne by all funds as is practicable. Such administrative <br /> charges shall be predetermined and budgeted annually <br /> ❑ New programs or proposals shall be reviewed in detail by City staff and both a policy and fiscal <br /> analysis shall be prepared prior to budgetary inclusion,and provided to the City Council for review <br /> ❑ A request for a program or service expansion or reduction must be supported by an analysis of <br /> public policy implications of the change <br /> ❑ A request for new personnel must be supported by an analysis demonstrating the need for the <br /> position based on workload measures, comparative staffing levels, and City and department <br /> priorities <br /> ❑ A request for purchase of new (additional) capital equipment must be supported by an analysis <br /> demonstrating that the value of the benefits of the equipment is greater than the cost of the <br /> equipment over its expected life <br /> ❑ As specified under City Code section 103.05 all general purchases and/or contracts in excess of <br /> $5,000 must be separately approved by the Council <br /> In recognition of industry-recommended budgeting practices,the City has established the following budget <br /> controls: <br /> ❑ The City will maintain a budgetary control system to ensure adherence to the budget <br /> ❑ The Finance Department will prepare regular reports comparing actual expenditures to budgeted <br /> amounts as part of the budgetary control system. These reports shall be distributed to the City <br /> Council on a periodic basis. <br /> ❑ Department heads shall be primarily responsible for maintaining expenditures within approved <br /> budget guidelines that are consistent with approved financial policies <br /> Implementation <br /> The budget as approved meets the above criteria and as a result, the above policies are considered to be <br /> implemented <br /> Page 2 of 10 <br />