Title
Adopt the updated General Financial Policies for reflecting revisions to the County’s fiscal management framework, including updates to operating budget requirements, revenue and expenditure policies, fund balance and reserve policies.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt the updated General Financial Policies for reflecting revisions to the County’s fiscal management framework, including updates to operating budget requirements, revenue and expenditure policies, fund balance and reserve policies.
SUMMARY/DISCUSSION:
The stewardship of public funds is among the most significant responsibilities of County officials and managers. The General Financial Policies serve as the County’s primary framework for fiscal planning, budget development, financial reporting, revenue management, capital planning, and internal controls. These policies are reviewed at least annually and updated to reflect best practices, statutory changes, operational requirements, and the Board’s strategic direction.
The recommended updates are intended to strengthen fiscal discipline, support long-term financial sustainability, clarify governance structures, and ensure alignment with Countywide priorities. The revised policies continue to centralize the County’s financial guidelines, providing transparency, accountability, and consistency for all departments.
Some of the significant changes in the fiscal policy update include:
· Updating references to state and federal document guidance.
· Clarification to the Budget Committee role and responsibility.
· Establishment of budgetary controls at the major expenditure category versus general appropriation unit.
· Prohibition of departments’ ability to reallocate their board approved general fund contributions within their budget units without the approval of the Board of Supervisors.
· Clarification of funds assigned in the strategic reserve by Natividad Medical Center do not count towards the Boar...
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