Town adopts 2019 budget policies

Coupeville Town Council approved the 2019 budget policies and priorities.

The budget policies include financial policies, allocation policies, employee policies, investment policies, capital policies and budgetary accounting.

Fiscal policies include: general fund ending balance should be maintained at a minimum of $300,000, Water fund ending balance should be maintained at a minimum of $100,000, sewer fund ending balance should be maintained at a minimum of $100,000 and stormwater fund ending balance should be maintained at a minimum of $20,000.

The debt service ratio in the water and sewer fund should not fall below 1.50.

Investment policies state that the primary objectives of the town’s investment activities should be, in order, safety, liquidity and yield. The town will attempt to match its investments with anticipated cash flow requirements.

Capital policies state that general revenues should be used to fund projects only if the project provides a general benefit to the town.

The budgetary accounting guidelines state that the clerk-treasurer, with written approval from the mayor, is authorized to move funds from one line item to another in a fund’s budget, provided that the total approved expenditure for the fund is not exceeded and the council is informed.

The list of policies is available online at https://townofcoupeville.org

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