TITLE
Consider a memorandum/resolution to accept proposed changes to the Financial Governance Policy.
SUMMARY
DATE: February 19, 2019
TO: Ronald L. Olson, City Manager
FROM: Jonathan Locke, Executive Director of Finance
SUBJECT: Financial Governance Policy Annual Review
BACKGROUND AND FINDINGS:
Killeen’s Financial Governance Policy was first adopted by City Council on December 19, 2017. The document provides the basic framework for the fiscal management of the City, and assists City Council and staff in evaluating current operations, proposed programs, and the long-term financial stability of the City.
The Financial Governance Policy requires an annual review to begin no later than January of each year. The first of such reviews began at the January 22, 2019 City Council Workshop. At the workshop, staff presented proposed changes to the governance policy. The changes were the result of staff monitoring the application of the governance policy over the past year. During the course of the workshop, City Council also provided feedback and changes to the policy.
At the February 5, 2019 City Council Workshop, staff presented the changes that came from the January 22, 2019 workshop. These changes were requested by City Council, or the result of discussion during the workshop. There were no additional changes recommended at the February 5th workshop.
Highlights of the proposed changes include:
· Establish a process for accepting donations;
· Identify the user fees and rates that City Council must approve, and delegate all other user fees and rates to the City Manager within established parameters;
· Add language that the City Manager determines the purchasing method to match the City’s Governing Standards;
· Remove reference to the Purchasing Manual as it is a standard operating procedure document;
· Revise how the General Fund’s resources are allocated to allow funding for street maintenance and Support Services prior to the other Budget Categories;
· R...
Click here for full text