File #: 2011-0397    Version:
Type: Motion Status: Passed
File created: 10/3/2011 In control: Budget and Fiscal Management Committee
On agenda: Final action: 11/9/2011
Enactment date: Enactment #: 13595
Title: A MOTION approving the 2012-2013 road services division financial policies and practices.
Sponsors: Julia Patterson
Indexes: Budget, Roads
Attachments: 1. 13595.pdf, 2. A. 2012-2013 Road Services Division Financial Policies and Practices, 3. 2011-0397 transmittal letter.doc, 4. Staff Report 10-25-11, 5. Staff Report 11-01-11, 6. Staff Report Attachment 1- Amendment, 7. Staff Report Attachment 1- Revised Attachment A, 8. Staff Report Attachment 2 - Title Amendment, 9. A. Road Services Division Financial Policies and Practices dated November 1, 2011, 10. 13595 Amendment Package 11-9-11.pdf
Staff: Resha, John
title
A MOTION approving the 2012-2013 road services division financial policies and practices.
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      WHEREAS, in 2010, the road services division completed a Strategic Plan for Road Services that identified several serious challenges facing the road system over the next five years, including rising costs and declining revenues, and
      WHEREAS, these challenges have had a profound impact on the county's ability to maintain its road system, and
      WHEREAS, the Strategic Plan for Road Services also sets clear priorities to guide the road services division as it manages the road system into the future, and
      WHEREAS, the King County council approved Motion 13393 directing the road services division to develop an implementation plan in 2011 for delivering the programs and services provided by the division within the policy framework of the Strategic Plan for Road Services and within current financial constraints, and
      WHEREAS, one of the key deliverables in the implementation plan included a review of existing budgeting and financial policies and practices, and
      WHEREAS, an interbranch working group was formed to carry out this review, consisting of staff from the road services division, the office of performance, strategy and budget, the department of transportation director's office, and council staff, and
      WHEREAS, this review entailed a close look at numerous financial policies and practices with the primary goal of improving responsible financial stewardship for the division, and
      WHEREAS, other specific objectives of this review process included the following:
        1.  Ensuring sufficient resources are available to fund activities in the event of a revenue shortfall or other unexpected events such as storms;
        2.  Limiting debt financing to appropriate uses and ensuring the availability of cash to cover debt payments;
        3.  Ensuring prioritization, planning and funding of the division's facility infrastructure needs;
        4.  Preventing premature reliance on property sale revenue and aligning one-time revenues with one-time expenditures; and
        5.  Allocating resources based on the Strategic Plan for Road Services priorities of regulatory compliance, core safety, maintenance and preservation through an integrated approach across capital and operating funds, and
      WHEREAS, the department of transportation's road services division financial policies and practices, as outlined substantially in the form of Attachment A, will lead to the implementation of best practices in many of the areas listed above;
      NOW, THEREFORE, BE IT MOVED by the Council of King County:
      The Road Services Division Financial Policies and Practices, Attachment A to this motion, are hereby approved.