City of Round Rock - File #: 2018-5774

• File #: 2018-5774
• Type: Resolution
• Status: Approved
• File created: 8/3/2018
• In control: City Council
• On agenda: 8/23/2018
• Final action: 8/23/2018
• Title: Consider a resolution approving and adopting Financial Policies related to the Budget for FY 2018-2019.

Date	Ver.	Action By	Action	Result
8/23/2018	1	City Council	approve	Pass

Title

Consider a resolution approving and adopting Financial Policies related to the Budget for FY 2018-2019.

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 2018-19. This item updates financial policies adopted August 2017.  These updates were reviewed by Council on July 26^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:

•                     Limit dependency on single sales tax payer

•                     Changes to the designation requirements for the Type B Fund

•                     Funding of the operations and debt for the Multipurpose Complex