FINANCIAL POLICY GUIDELINES
The stewardship of public funds is one of the primary responsibilities of the City of Woodland for its residents. Strong financial policies help guild elected officials to manage the City’s financials to ensure the City meets its immediate and long-term financial and service objectives. These policies serve as guidelines for both financial planning and internal financial management of the City to provide transparency to the public.
The City of Woodland is accountable to its citizens for the use of public funds. Resources must be wisely used to ensure adequate funding for the services, public facilities, and infrastructure necessary to meet the community’s present and future needs. The City must also follow all adopted policies, State, and Federal requirements.
OBJECTIVES
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To guide the City Council in management policy decisions that have significant fiscal impact.
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To set forth operating principles that minimize the cost of government and financial risk.
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To implement balanced and fair revenue policies that provide adequate funding for desired programs.
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To maintain appropriate financial capacity for present and future needs.
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To promote sound financial management by providing accurate and time information on the City’s financial condition.
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To protect the City’s credit rating and provide for adequate resources to meet the provisions of the City’s obligations on all municipal debt.
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To ensure the legal use of financial resources through an effective system of internal controls.
ORGANIZATION
The City Council, as a legislative governing body, sets the City’s Financial and Budget Policy Guidelines and monitors the overall financial performance.
The mayor manages the day-to-day operations of the City as well as prepares and administers the City’s annual budget consistent with the policies and legal requirements. However, this may be delegated to a Department Manager.
The City Treasurer, who reports to the mayor, is responsible for preparing accurate financial and budget reports to be distributed to the City Council, Mayor, and Department Managers.
Department Managers report to the mayor and are responsible for department operations. They also monitor related revenue performance and expenditure controls with the assistance of the City Treasurer.