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Cityot <br />Louisville <br />COLORADO • SINCE 1878 <br />FINANCE COMMITTEE <br />COMMUNICATION <br />SUBJECT: <br />DATE: <br />UPDATE ON FINANCIAL POLICIES PROJECT <br />MARCH 16, 2015 <br />PRESENTED BY: KEVIN C. WATSON, FINANCE <br />SUMMARY: <br />At the February 16 meeting, preliminary drafts of six amended financial policies were <br />presented for review: <br />1. General Policies <br />2. Reserve Policies <br />3. Debt Policies <br />4. Revenue Policies <br />5. Operating Budget Policies <br />6. Investment Policies <br />The complete set of financial policies, which will eventually replace the ones adopted in <br />1997, is not yet complete. However, staff wishes to keep the Committee up -to -date on <br />the status of the project. <br />No new policy drafts have been completed during the past month. The only change has <br />been to the Revenue Policies. Per Committee request, Sections 15 and 16 of the <br />current Revenue Policies have been incorporated as Sections 4.7 and 4.8 of the <br />proposed Revenue Policies. <br />The amended proposed Revenue Policies are included, with the new section <br />highlighted in red. <br />FINANCE COMMITTEE COMMUNICATION <br />