Page 30 - CityofKennedaleFY23Budget
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FINANCIAL POLICIES AND PROCEDURES
Financial policies, adopted by Council, govern the management of the City’s various funds.
These policies have enabled the City to maintain an A+/A1 bond rating. Adopted Financial
Policies are available on the city website at www.cityofkennedale.com/FINpolicies.
Two financial policies are included in the Appendix to the budget – Financial Management,
which defines the budget principles and Fund Balance, which specifies desired fund balance
reserves of fund balances of 18 to 25% of budgeted annual operating expenditures. If
projected revenue is not sufficient to support projected expenditures, reserves will be used to
support required needs. The GFOA recommended reserve is 60 days of expenditures. Both
measures are calculated within this budget.
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