6.3. SR 03-11-2013 - Laserfiche WebLink

Home Browse Search

1. Loss Prevention. Prevent negative occurrences. 2. Loss Control. Reduce or mitigate expenses of a negative occurrence. 3. Loss Financing. Provide a means to finance losses. 4. Loss Information Management. Collect and analyze relevant data to make prudent loss prevention,loss control and loss financing decisions. • The city will maintain an active Safety Committee comprised of city employees. • The city will periodicall y conduct educational safety and risk avoidance programs,through its Safety Committee and with the participation of its insurers,within its various departments. • The city will maintain the highest deductible amount, considering the relationship between cost and the city's ability to sustain the loss. OPERATING BUDGET The City Administrator will submit a balanced budget in which appropriations do not exceed the total of the estimated General Fund revenue and the fund balance available after applying the General Fund Reserve Policy. • The city will annually budget a General Fund Contingency Appropriation,not to exceed .5% of the total budget, to provide for unanticipated expenditures of a nonrecurring nature. • In the event there is an unanticipated shortfall of revenues in a current year budget, the Finance Director may recommend the use of a portion of the General Fund fund balance,not to exceed the amount available to cash or reserved for working capital or already appropriated to the General Fund current budget. • The budget will provide for adequate maintenance of the capital buildings and equipment, and for their orderly replacement. • The operating budget will describe the major goals to be achieved and the services and programs to be delivered for the level of funding provided. • Before adding a new progam or service, the city will utilize a cost/benefit analysis of outside contractors versus in-house provided services. • The city will attempt to maintain the GFOA Distinguished Budget Presentation Award. • The city will not sell assets or use one-time accounting principle changes to balance the budget for any fund. • The city will provide ample time and opportunity for public input into its budget deliberations each year. • Department Directors shall be responsible for administration of their operating budget. Requests for budget adjustments must be submitted and approved before any program incurs cost overruns for the annual budget period. • The budget shall be amended as needed to recognize significant deviations from original budget expectations. The Council shall consider budget amendments each December. Budget amendments are intended to recognize changes made by the Council during the year,to reflect major revenue and expenditure deviations from budgeted amounts, and to consider year-end budget requests. Budget amendments are not intended to createa budget that matches budgeted revenues and expenditures to actual revenue and expenditures. Financial Management Policies Page 10