Title
Consider/Discuss/Act on a Resolution Adopting the Fiscal Year 2013-2014 Financial Policy
Summary
MEETING DATE: September 17, 2013
DEPARTMENT: Finance
CONTACT: Rodney Rhoades, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
· Adopt the Fiscal Year 2013-2014 Financial Policy
ITEM SUMMARY:
· The City of McKinney shall take action to annually adopt the financial policy.
· This policy, which is included in the annual budget, is used by the external auditor to ensure that prudent financial management is being practiced.
· There are no changes to the financial policy.
BACKGROUND INFORMATION:
· The City adopts financial policies to provide a stable financial base at all times. The policy establishes that sufficient funds be retained to provide cash flows as needed for the financial operations of the City.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A