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File #: 2021-0334    Version: 1
Type: Motion Status: In Committee
File created: 9/7/2021 In control: Budget and Fiscal Management Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: A MOTION adopting revised comprehensive financial management policies for King County; and rescinding Motion 15250.
Sponsors: Jeanne Kohl-Welles
Indexes: Comprehensive Plan, Financial Policies, King County
Attachments: 1. A. King County Comprehensive Financial Management Policies, 2. 2021-0334 transmittal letter, 3. 2021-0334 Legislative Review Form
Related files: 2021-0333, 2005-0284

Drafter

Clerk 09/01/2021

title

A MOTION adopting revised comprehensive financial management policies for King County; and rescinding Motion 15250.

body

                     WHEREAS, King County has a responsibility to manage its finances in an accountable, appropriate and sustainable manner, and

                     WHEREAS, the county recognizes that having and updating formalized policies around financial management to provide guidance on developing operating budgets, capital asset management, expenditure management, revenue generation and collection and the use of fund balance, and

                      WHEREAS, institutionalizing good financial management practices support strong bond ratings and sustainable service and reduces fiscal risk, and

                      WHEREAS, the adopted revised comprehensive financial management policies address interfund management, intergovernmental service charges and the use of reserves and fund balance, and

                      WHEREAS, Motion 15250 established the previous version of comprehensive financial management policies;

                     NOW, THEREFORE, BE IT MOVED by the Council of King County:

                     A.  King County Comprehensive Financial Management Policies, Attachment A

to this motion, is hereby adopted.

                     B.  Motion 15250 is hereby rescinded.