HomeMy WebLinkAbout2016-05-02-J01P Budget Carryover PolicyWaukee
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AGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: May 2, 2016
AGENDA ITEM: Consideration of approval of a resolution approving City of Waukee
Budget Carry Over Policy
FORMAT: Resolution
SYNOPSIS INCLUDING PRO & CON: The City currently does not have a formal budget
carry over policy. The national Governmental Finance Officers
Association (GFOA) recommends several policies be approved for
municipal entities, including a budget carry over policy. The attached
policy was drafted from the current policies adopted by Clive,
Urbandale, Ankeny, West Des Moines and Johnston as well as the
recommended language from GFOA.
FISCAL IMPACT INCLUDING COSTIBENEFIT ANALYSIS:
COMNIISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: .
RECOMMENDATION: Staff would recommend the approval of the financial policy.
ATTACHMENTS:
PREPARED BY:
REVIEWED BY:
I. General Financial Policy
II. Proposed Resolution
Linda Burkhart ��
PUBLIC NOTICE INFORMATION —
NAME OF PUBLICATION:
DATE OF PUBLICATION:
THE CITY OF WAUKEE, IOWA
RESOLUTION
APPROVING CITY OF WAUKEE FINANCIAL POLICY — BUDGET CARRY OVER
POLICY, OF THE STANDARD ADMINISTRATIVE POLICY AND PROCEDURES
MANUAL
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Iowa is a duly organized municipality within Dallas
County; AND,
WHEREAS, the Waukee City Council shall approve operating policies and procedures;
AND,
WHEREAS, City staff has presented the City Council with a Budget Carry Over Policy,
attached hereto as Exhibit A, and recommends approval.
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in session
this 2"d day of May, 2016, that the City of Waukee Financial Policy — Budget Carry Over
Policy, of the Standard Administrative Policy and Procedures Manual is hereby approved.
William F. Peard, Mayor
Attest:
Rebecca D. Schuett, City Clerk
ROLL CALL VOTE AYE NAY ABSENT ABSTAIN
Shane Blanchard
Brian Harrison
Shelly Hughes
Larry R. Lyon
Rick Peterson
►,lk Waukee
- THE KEY TO GOOD LIVING
Standard Administrative Policy
& Procedures Manual
Title: FINANCIAL POLICY Date of Version: May 2, 2016
Section: BUDGET CARRYOVER POLICY Resolution No.: #16-
SECTION 1 — Policy
1. All appropriations carried forward from one fiscal year to the next fiscal year
must be approved by the City Administrator
2. The appropriation must be for an item or service specifically listed in the
requesting department's budget. Appropriations for regular and ordinary
operating expenditures may not be carried forward. Purchases of items and
services not listed in the requesting department's budget are not eligible for
carryover.
3. The amount of the appropriation may not be lower than the lesser of a) one
percent (1%) of the activity's budget, or b) $2,500.
4. All appropriations to be carried forward are contingent upon adequate and
available resources and fund balance.
5. Invoices and payments to vendors should not be manipulated, delayed,
postponed, split, prepaid, incorrectly billed, or otherwise in order to manipulate
and control budget expenditures.
6. The spend down of budget appropriations at fiscal year-end should be avoided
in order to prevent problems in cash flow, budget monitoring, and potentially
wasteful spending.
SECTION 2 — Procedures
The following procedures should be completed prior to June 30:
1. A memo requesting budget appropriations to be carried forward to the next year
should be submitted to the Finance Department. The memo should include a list
of all appropriations to be carried forward by the department, the activity and
account they are budgeted in, and the justification for carrying the items
forward.
2. The Finance Department will review the requests to determine if the items
qualify for carry forward and if funds are available to cover the expenditures.
3. The Finance Department will summarize the requests along with
recommendations for approval or denial to the City Administrator.
4. The City Administrator will approve or deny the carry forward requests and
return the results to the Finance Department. Each requesting department will
then receive a notice of the result of their requests.
5. New fiscal year budgets will then be modified to include the appropriation
amounts carried forward and will be included in the revised budgets during the
budget amendment process.