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Published byTrinidad San Segundo Arroyo Modified over 6 years ago
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Fund Balance Policy Tuesday, March 10th 2015
Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGMA Finance Director Lina Williams Budget & Financial Analyst
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Purpose of Policy Establish level of “Working Capital” (cash) in operating & other funds Hedge against sudden decreases in revenue or unexpected expenditures Provide guidance for increasing/decreasing levels of fund balance
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Why Update? Changes in operations or goals for specific funds
Address Auditor recommendations
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Proposed Changes Remove Tennis Center & Golf Course Funds
(no longer enterprise funds) Revise policy for Solid Waste Fund as recommended by Auditor Increase range: From 5% min/10 % max To 10% min/20% max
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Next Step Approve Resolution updating the Fund Balance Policy
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Questions?
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