These Financial Management Policies have been adopted by the Council of the City of Fort Collins, pursuant to the provisions of Article V, Section 12 of the City Charter, to guide the administration, management, deposit and investment of City funds. They reflect the current requirements and laws that apply to the City’s financial activities and, in the judgment of the City Council, they represent the best financial practices for the City. The formulation of these policies has been guided by input and standards derived from nationally recognized organizations such as the Government Finance Officers Association (GFOA), National Advisory Council on State and Local Budgeting (NACSLB), and International City and County Managers Association (ICMA). A key objective of these Financial Management Policies is to provide a central location for all Council‐approved financial policies.
Nothing herein is intended to supersede the provisions of the City Charter or City Code. Rather, these policies are intended to provide more detailed rules and guidelines to be used by decision makers, management staff, and other City employees in administering the financial affairs of the City.
To supplement and implement these Financial Management Policies, and to further preserve and strengthen the financial health of the City, the City Manager and City Financial Officer may, in carrying out their respective duties and responsibilities under the City Charter and City Code, adopt any such additional administration policies as they deem necessary for that purpose. Such policies will generally be more detailed and operationally focused.
If, from time to time, the City Council determines that extraordinary circumstances or changing objectives warrant revisions or exceptions to these Financial Management Policies, the City Council may approve by resolution or ordinance such amendments or exceptions to the same as the City Council considers to be in the best interest of the City. (Modified 11/5/2013)
|Policy||Date Last Modified||Date Last Reviewed|
|Reserves (Fund Balance)||7/15/2014||7/15/2014|
|Tax Incrementing Financing Policy||9/30/2014||9/30/2014|