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AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Resolution No. 3247 adopting Study Session Date: June 10 &July 8, 2015
updated Financial Goals and Policies for the COUNCIL MEETING Date: July 15, 2015
City of Bremerton Department: Financial Services
Presenter: C. JohnsonJM. Riley
Phone: 360-473-5296
SUMMARY: The stewardship of public funds is one of the greatest responsibilities given to the City
Council and the Administration of the City of Bremerton. The establishment and maintenance of
sound fiscal policies is an important part of fulfilling that expectation. The City last update financial
goals and policies by Resolution No. 3034 on August 15, 2007. It is important to periodically review
these financial goals and policies to ensure they are continuing to meet the City's needs and are
updated as needed. The proposed action repeals and replaces the existing financial goals and
policies with an updated version. Primary changes are to update interfund loan provisions and to
adopt provisions for the use of unrestricted fund balances.
ATTACHMENTS: 1) Resolution No. 3247 2)Attachment A"Financial Goals & Policies"
FISCAL IMPACTS (Include Budgeted Amount): None. Provides guidance to financial planning and
decisions for the City.
STUDY SESSION AGENDA: ❑x No Presentation ❑ Full Presentation
STUDY SESSION ACTION: ❑x Consent Agenda ❑ General Business ❑ Public Hearing
RECOMMENDED MOTION: Move to approve Resolution No. 3247 adopting updated Financial
Goals and Policies for the City of Bremerton.
COUNCIL ACTION: [�Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/07/15