Financial Management Policies

A critical factor that drives decisions in local government is a City’s fiscal health. Cities need to make strategic financial decisions to ensure they can respond to emergencies, invest in infrastructure, and reserve funds for long-term needs that support the community’s ongoing well being.

Effective financial management policies help guide these kinds of decisions. They allow staff to track a City’s fiscal health and help elected officials make policy decisions on how funds are allocated. In 2021, the City Council approved Financial Management Policies that will support good bond ratings, reduce the cost of borrowing, and promote long-term and strategic thinking.

The policies include:

• Fiscal Sustainability Philosophy
• Operating Budget
• Revenues and Expenditures
• Capital Budget
• Reserves and Fund Balance
• Long-term Financial Planning
• Accounting, Financial Reporting, and Auditing
• Investments
• Debt Management Policy
• Cost Allocation Plan