Page 359 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 11 Municipal Policies
Municipal Fiscal & Budgetary Policies

E. Debt Management: Establish guidelines for debt financing that will provide needed
capital equipment and infrastructure improvements while minimizing the impact of debt
payments on current revenues.

F. Intergovernmental Relationships: Where feasible, coordinate efforts with other
governmental agencies to achieve common policy objectives, share the cost of
providing governmental services on an equitable basis and support favorable legislation
at the State and Federal level.

G. Grants: Seek, apply for and effectively administer within this policy’ s guidelines, Federal,
State, and foundation grants- in-aid which address the Town’ s current priorities and policy
objectives.

H. Economic Development: Initiate where feasible, encourage, and participate in
economic development efforts to create job opportunities and strengthen the local tax
base and economy

I. Fiscal Monitoring: Prepare and present regular reports that analyze, evaluate, and
forecast the Town’ s financial performance and economic condition.

J. Financial Consultants: With available resources, seek out and employ the assistance of
qualified financial advisors and consultants in the management and administration of
the Town’ s financial functions.

K. Accounting, Auditing, and Financial Reporting: Comply with prevailing Federal, State
and local statues and regulations. Conform to generally accepted accounting
principles as promulgated by the Government Accounting Standards Board ( GASB), the
American Institute of Certified Public Accountants ( AICPA), and the Government
Finance Officers Association ( GFOA).

L. Capital Improvement Plan/ Budget and Program: Multi- year planning, forecasting,
preparation, and control of the Town’ s capital improvement plan/ budget.

M. Capital Maintenance and Replacement: Annually review and monitor the state of the
Town’ s capital equipment and infrastructure, setting priorities for its replacement and
renovation based on needs, finding alternatives, and availability of resources.

N. Internal Controls: To establish and maintain an internal control structure designed to
provide reasonable assurances that the Town’ s assets are safeguarded and that the
possibilities for material errors in the Town’ s financial records are minimized.

345