Summary
To: Finance Advisory Board
From: Tina R Porter, Finance Director
Date: 3/20/2024
______________________________________________________________________
Subject:
Title
Financial Management Policies Update
Summary:
Finance Advisory Board to review and recommend any changes to proposed Financial Management Policies
Body
Previous Commission Action: The Town Commission approved the current Financial Management Policies in February 2022. The draft of the revision was provided to the FAB in January for review.
Background/Problem Discussion: Due to changes in organizational management and changes in GASB, policy updates are required to be more comprehensive.
Expenditure Challenges: NA
Financial Implications: These policies will serve as a central reference point for Commission, Advisory Boards and Staff in relation to financial management of the Town, saving time and energy when discussing financial matters and will provide the basic financial foundation and framework for financial decisions facing the Town.
Recommendation: I recommend acceptance of amended financial management policies for presentation to the Town Commission.
Proposed Motion Enter I move for acceptance of financial management policies for presentation to the Town Commission.