City of Round Rock - File #: 2017-4701

• File #: 2017-4701
• Type: Resolution
• Status: Approved
• File created: 8/4/2017
• In control: City Council
• On agenda: 8/24/2017
• Final action: 8/24/2017
• Title: Consider a resolution approving and adopting Financial Policies related to the Budget for FY 2017-2018.

Date	Ver.	Action By	Action	Result
8/24/2017	1	City Council	approve	Pass

Title

Consider a resolution approving and adopting Financial Policies related to the Budget for FY 2017-2018.

Body

The Chief Financial Officer has prepared updated financial policies to be adopted in conjunction with the adoption of the City of Round Rock Budget for FY 2017-2018. This item updates financial policies first adopted August 25, 2016.  Several of these updates were reviewed by Council on July 13^th during Council Budget Retreat.  The Financial Policy is attached as Exhibit A.  Items marked in red have been updated to clarify, update or establish a new policy.

Summary of Updates:

•                     Re-ordering of Council Vision and Goals as directed following the Council retreat in February

•                     Changes to the reserve requirements for the General Fund

•                     Changes to the designation/reserve requirements for the Type B Fund

•                     Added Certificates of Obligation to the Types of Debt section