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AN ORDINANCE adopting Fund Management Policies for the public transportation fund.
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STATEMENT OF FACTS:
1. Adopted transit fund management policies provide a framework to ensure the financial health and viability of the public transportation fund.
2. The council called for a performance audit in 2009 of the transit division which resulted in recommendations that existing financial policies were reviewed.
3. The adopted Strategic Plan for Public Transportation includes financial strategies that were previously identified as financial policies.
BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. The Fund Management Policies for the Public Transportation Fund, Attachment A to this ordinance, are hereby approved.