Meeting Type: BCC Work Session
Meeting Date: 8/13/2019
Item Status: New
From: Ronald J. Cink, Budget Director
Submitted by: Christie Davis, Senior Budget Accountant
______________________________________________________________________
ITEM TITLE
Title
Financial Management Policy
Body
STAFF RECOMMENDATION
Recommendation
Discuss and adopt the attached policy as Finance and Accounting - 8.22 Financial Management Policy.
End
BACKGROUND INFORMATION
Previous Commission action/date: N/A
Background: Staff, Commissioner Underwood, and Commissioner Davis have been working to strengthen the Finance and Accounting Policies of the County Commission. As a result, a Financial Management Policy has been created. The purpose of the policy document is to serve as an all-encompassing financial management policy for Baldwin County, which will provide direction for the Baldwin County Commission in budgeting, reserve balances, debt management and accounting, auditing and financial reporting practices. Moreover, the policy will provide recommended methods to accomplish and adhere to the proposed procedures contained herein. The policy document will create, manage and ensure ongoing adherence to a purposeful, planned and deliberate set of guidelines to create both operating and restricted accounts.
FINANCIAL IMPACT
Total cost of recommendation: N/A
Budget line item(s) to be used: N/A
If this is not a budgeted expenditure, does the recommendation create a need for funding? N/A
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: N/A
Individual(s) responsible for follow up: Christie Davis/ Administrative staff
Action required (list contact persons/addresses if documents are to be mailed or emailed): Christie Davis will coordinate with Administrative staff to get the new policy incorporated into the Baldwin County Policies and Procedures Book.
Additional instructions/notes: N/A