HomeMy WebLinkAboutBack-Up from Law Dept.PART II w THE CODE
Chapter 18 Po FINANCE
ARTICLE IX. - FINANCIAL POLICIES
1' IC,tI ZAI ANCIAt; INTE RI Y PRINCIRE •
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CfPL
Sec 1- . Olnanctaj integrity principleS
The following financial integrity principles are h
(1) Structurally balanoed budget. The city shall ntaint In a sir roturaily-balanced budget, Re urring
revenues will fund recurring expenditures,
(2) Estimating conference process. The city shall adopt budgets and develop its long and short-
tenli financial plan utilizing; a professional estimating conference process. Conference prncipals
shall include, but not be limited to one principal from the budget office; one principal from the
finance department and two non -staff principals with public finance expertise,
(j interfund borr owfng. The city shall not borrow cr use Internal fund transfers to obtain cash from
one fund type or reserve to fund activities of another fund type or reserve unless such use is
deemed lawful, and unless the estimating conference has determined that (a) the funds to be
loaned will not be needed during the lending period, and (b) the funds for repayrnent will be
available within a two-year period, Any actions taken to borrow funds under these conditions.
must be separately presented to and approved by the city commission and the term of such
borrowing shall not extend beyond the last day of the subsequent fiscal year,
Recognizing that some programs aro funded by grants or other entitles on a ralmbursement
basis, the city shall apply for such reimbursements on a timely basis to minirniza the period that
city funds are used as float. In the event loans/float for these reimbursements extend beyond
the end of a fiscal year, such reimbursements shall be reflected as receivables in the
comprehensive annual financial statements report (CAF'R) to the extent allowed under
accounting princlptos generally accepted in the United States of America (OAAP).
r, f fire rrc s etl make a uttr rlv determl afien of'.the_altt ►1 _of.
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