HomeMy WebLinkAbout2013-090-11/05/2013-AMENDING THE CITY COUNCIL'S FINANCIAL MANAGEMENT POLICIES BY THE ADDITION OF AN INTRODUCTION SECTION RESOLUTION 2013-090
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING THE CITY COUNCIL'S FINANCIAL MANAGEMENT
POLICIES BY THE ADDITION OF AN INTRODUCTION SECTION
WHEREAS, in 1994, the City Council adopted Resolution 94-174 approving certain
Financial Management Policies (the "Policies") which established guidelines for the preparation
of the annual budgets of the City and its long-range financial plans; and
WHEREAS, the City Council has periodically amended the Policies; and
WHEREAS, the City Manager, Financial Officer and City Attorney have recommended
that the City Council further amend the Policies to include an Introduction section and an Index
to the Policies; and
WHEREAS, the purpose of the Introduction is to explain how the Policies have been
formulated and the ways in which they are to be used, and to also specifically authorize the City
Council to approve exceptions to the Policies by ordinance or resolution when the City Council
determines that extraordinary circumstances or changing objections warrant such exceptions.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that the Financial Management Policies, as previously amended, are hereby
further amended by the addition of the Introduction section and Index shown on Exhibit "A",
attached hereto and incorporated herein by this reference.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 5th
day of November, A.D. 2013.
Mayor P Tern
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City Clerk �Q•
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EXHIBIT A
ort Collins,
Financial Management Policies
Introduction
These Financial Management Policies have been adopted by the Council of the City of Fort Collins,
pursuant to the provisions of Article V, Section 12 of the City Charter, to guide the administration,
management, deposit and investment of City funds. They reflect the current requirements and laws
that apply to the City's financial activities and, in the judgment of the City Council, they represent
the best financial practices for the City. The formulation of these policies has been guided by input
and standards derived from nationally recognized organizations such as the Government Finance
Officers Association (GFOA), National Advisory Council on State and Local Budgeting (NACSLB), and
International City and County Managers Association (ICMA). A key objective of these Financial
Management Policies is to provide a central location for all Council-approved financial policies.
Nothing herein is intended to supersede the provisions of the City Charter or City Code. Rather,
these policies are intended to provide more detailed rules and guidelines to be used by decision
makers, management staff, and other City employees in administering the financial affairs of the
City.
To supplement and implement these Financial Management Policies, and to further preserve and
strengthen the financial health of the City, the City Manager and City Financial Officer may, in
carrying out their respective duties and responsibilities under the City Charter and City Code, adopt
any such additional administration policies as they deem necessary for that purpose. Such policies
will generally be more detailed and operationally focused.
If, from time to time, the City Council determines that extraordinary circumstances or changing
objectives warrant revisions or exceptions to these Financial Management Policies, the City Council
may approve by resolution or ordinance such amendments or exceptions to the same as the City
Council considers to be in the best interest of the City.
INDEX
REF. POLICY TITLE/SECTION Last Update Approver Page
Section I- City Financial Management Policies
1 Budget 11 15 2005 City Council
2 Revenue 11 15 2005 City Council
3 General 11 15 2005 City Council
4 Fund 04/15/2008 City Council
5 Reserves (Fund Balance) 04/15/2008 City Council
6 Capital Improvement Funds 11 15 2005 City Council
7 Debt 11 15 2005 City Council
8 Investments 12 18 2012 City Council
Section 11-City Council Decisions related to URA
Financial Management Policies
URA TIF FinancingIncentives inprocess) TBD City Council.