Page 38 - Microsoft Word - Budget FY 19
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CITY OF FOREST HILL
The Program of Services submitted to the City Council shall strive to maintain a
minimum unreserved fund balance of 90 days of annual operating expenditures
for the General Fund and a minimum working capital equivalent to 15 days of
annual operating expenses for the Water and Sewer Fund. Due to the economic
shortcomings in the prior years, the City has presented here within a balanced
budget that will regain the goal of maintaining the minimums anticipated.
Operating Budget Policies
The City of Forest Hill budgets resources on a fiscal year, which begins
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October 1 and ends September 30 of the following year.
The City of Forest Hill operating budget will be developed on an annual basis.
Appropriations for each year will be approved annually by the City Council.
The operating budget shall be linked to Financial and Strategic Plans.
It is the responsibility of the City Manager to prepare and present the City’s
annual operating budget to the City Council for their approval. The City Council
has the final responsibility for adopting the budget and for making the necessary
appropriations.
The annual adopted budget shall be comprehensive in scope and include all
annually budgeted operating funds.
The proposed operating budget shall appropriate sufficient funds for operations
to maintain existing quality and scope of City Services.
The basis of budgeting shall be modified accrual in the Governmental Funds and
modified accrual (working capital) in the proprietary funds.
An annual budget calendar shall be prepared including statutory public meeting
and tax notice requirements.
Specific City Council action shall be required to amend the operating budget.
Where possible, the City will integrate performance measurement, service level,
and productivity indicators in the City’s published budget document.
Capital Budget Policies
Non-recurring capital expenditures are budgeted as debt funded or operating
accounts if minor.
Operating expenditures that are incurred from non-recurring capital expenditures
are included and anticipated in each operating fund’s budget.
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