Subject
Resolution 2158 - A Resolution Re-Adopting the Financial Policies and Investment Policy for the City of Hermiston and Superseding Resolution No. 2135.
Summary and Background
The City Council last approved/re-adopted the City of Hermiston's Financial Policies as well as a revision of the City of Hermiston's Investment Policy on October 14, 2019. Today's action by Resolution 2158 will provide for approval and re-adoption of ALL the City of Hermiston's Financial Policies (including the revision of the City of Hermiston's Investment Policy) to satisfy the policy requirement for an annual approval/re-adoption of all of the City of Hermiston's Financial Policies.
This action today will better suit the timing of this re-approval process in future years, to occur AFTER the annual budget preparation and BEFORE we begin the year-end financial close process, the annual audit, and production of the Comprehensive Annual Financial Report ("CAFR") in July of each year.
Tie-In to Council Goals:
Fiscal Prudence
Fiscal Information
NONE
Alternatives and Recommendation
Alternatives
1. Approve Resolution 2158 - A Resolution Re-Adopting the Financial Policies and Investment Policy for the City of Hermiston and Superseding Resolution No. 2135.
2. Do NOT Approve Resolution 2158 - A Resolution Re-Adopting the Financial Policies and Investment Policy for the City of Hermiston and Superseding Resolution No. 2135.
Recommendation
Approve Resolution 2158 - A Resolution Re-Adopting the Financial Policies and Investment Policy for the City of Hermiston and Superseding Resolution No. 2135.
Requested Action/Motion
Request a motion to approve Resolution 2158 - A Resolution Re-Adopting the Financial Policies and the Investment Policy for the City of Hermiston and Superseding Resolution No. 2135.
Submitted By: Mark Krawczyk