Finance Committee Agenda and Packet 2014 03 17

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Fiscal Policies 27. The City of Louisville’s Water and Sewer Investment Policies Funds will pay the General Fund a franchise fee for the utilization of public streets and 37. The City of Louisville amended its rights of way. The fee will be a percent of Investment Policy through Resolution No. the operating budget year’s projected 14, Series 2012, in order to comply with revenues. House Bill 12-1005, which changed the definition of legal investment of public funds Reserve Policies by amending CRS Section 24-75-601. This amendment also brought the City’s 28. Policy 28 was Rescinded March 18, 1997, investment policy up to current generally Resolution No. 19. New fund balance accepted standards. The Policy is located policies were created by Resolution No. 42, on the City’s website at Series 1997 (Policies 45 through 47) www.louisvilleco.gov. 29. The City of Louisville will establish an 38. Competitive Quotes – The City will seek equipment reserve fund and will appropriate competitive quotes on all investments. funds to it annually to provide for timely Investments will be made on the basis of the replacement of equipment. legality, safety, liquidity and yield of invested money with regard for the characteristics of 30. Policy No. 30 has been reserved for future the investments, the quotes and the quoting use. institutions. Capital Improvement Policies 39. Documentation – All purchase and sales of investments shall be authorized or confirmed in writing with the issuer. Internal 31. The City of Louisville will make all capital controls will be established to ensure the improvements in accordance with an integrity of the investment process. For adopted Capital Improvement Program. investment transactions, which are, conducted electronically, confirmation in the 32. The City of Louisville will develop a multi- form of annotated documentation and year plan for capital improvements and confirmation received will be retained. update it annually. 40. Reporting Requirements – The investment 33. The City of Louisville will enact an annual officer shall generate daily and monthly capital budget based upon the Capital reports for management purposes. The Improvement Program. This capital budget report shall summarize the investment will be coordinated with the operating securities, maturities, and any other features budget. necessary for clarification. 34. The City of Louisville will require that project Accounting Policies costs be submitted with capital projects requests. “Full life” costs including operating, maintenance, and demolition, if 41. The City will establish and maintain a high any, should be listed. degree of accounting practice. Accounting systems will conform to accepted principles 35. The City of Louisville will project its of standards of the Governmental equipment replacement and maintenance Accounting Standards Board, Governmental needs for the next five years to minimize Finance Offices Association, and the State future maintenance and replacement costs. of Colorado. (As amended March 18, 1997, Resolution No. 19) 36. The City of Louisville will maintain all its assets at a level adequate to protect the 42. The City shall apply to the Government City’s capital investment and to minimize Finance Officers Association for its Certificate of Conformance in the Financial future maintenance and future replacement Reporting Program. costs. 8