HomeMy WebLinkAboutR-2012-13 amending the city’s Financial Management PoliciesRESOLUTION NO. 2012-_L�)_
A RESOLUTION ADOPTING UPDATED FINANCIAL MANAGEMENT POLICIES FOR THE
CITY OF LA PORTEI MAKING VARIOUS FINDINGS AND PROVISIONS RELATING
TO THE SUBJECTy FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW1 AND
PROVIDING AN EFFECTIVE DATE HEREOF.
WHEREAS, the City Council of the City of La Porte has found
and determined that the City of La Porte Financial Management
Polices provide a basic framework for the overall fiscal management
of the City.
WHEREAS, the City Council of the City of La Porte has found
and determined that the Financial Management Policies reflect long
standing principles and practices, which have enabled the City to
maintain its financial stability.
WHEREAS, the City Council of the City of La Porte has found
and determined that the Financial Management Policies should be
updated to set a target of 90 to 120 days of working capital.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF LA PORTE:
Section 1. The City Council of the City of La Porte hereby
adopts updated Financial Management Polices for the City of La
Porte, a copy of which are attached to this Resolution as Exhibit
"A", and incorporated by reference herein.
Section 2. The City Council officially finds, determines,
recites, and declares that a sufficient written notice of the date,
hour, place and subject of this meeting of the City Council was
posted at a place convenient to the public at the City Hall of the
City for the time required by law preceding this meeting, as
required by the Open Meetings Law, Chapter 551, Texas Government
Code; and that this meeting has been open to the public as required
by law at all times during which this resolution and the subject
matter thereof has been discussed, considered and formally acted
upon. The City Council further ratifies, approves and confirms
such written notice and the contents and posting thereof.
Section 3. This Resolution shall be effective from and after
its passage and approval.
PASSED AND APPROVED this 12th day of November, 2012.
AST:
Patrice Fogar
City Secretary
APPROVED:
Clark T. Askins
Assistant City Attorney
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By:
L ui R. kifby, Mayor
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