HomeMy WebLinkAbout11-049 Comp Financial Management Policy
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 1 1 - 049
A RESOLUTION ADOPTING THE
COMPREHENSIVE FINANCIAL MANAGEMENT POLICY
Motion By: Hedberg Second By: Erickson
WHEREAS, The City’s 2030 Vision and Strategic Plan calls for the establishment of a
Comprehensive Financial Management Policy; and
WHEREAS, The Comprehensive Financial Management Policy serves three main purposes; and
To draw together in a single document the City’s major financial policies;
To establish principles to guide both staff and Council members to make
consistent and informed financial decisions.
To inform the citizenry that the City is a prudent steward of their resources.
WHEREAS, The Comprehensive Financial Management Policy establi shes the following objectives;
and
To provide both short - term and long - term financial stability to city government
by ensuring adequate funding for providing services and protecting
infrastructure needed by the community today and for years to come;
To pro tect the City Council’s policy - making ability by ensuring that important
policy decisions are not constrained by financial problems or local, state,
regional or national emergencies;
To provide sound financial principles to guide the decisions of the City Council
and City management;
To create a document that City management and City Council members can
refer to when engaged in financial planning, day to day decision making, budget
preparation and other financial management endeavors.
NOW THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAK E,
,
MINNESOTA
as follows :
1. The recitals set forth above are incorporated herein .
2. The City Council hereby approves the Comprehensive Financial Management Policy dated April 18,
2011 .
PASSED AND ADOPTED THIS 1 8 th DAY OF A PRIL , 201 1 .
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keeney
Soukup X Soukup
______________________________
Frank Boyles, City Manager