Resolution 2015-92 - Laserfiche WebLink

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 Policy 28 was Rescinded March 18, 1997, Resolution No. 19.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