HomeMy Public PortalAbout2019.019 (03-05-19) RESOLUTION NO. 2019.019
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING
FISCAL AND BUDGET POLICIES
WHEREAS, the City of Lynwood has a responsibility to its citizens to
carefully account for public funds, to manage municipal finances wisely, and to plan for
the provision of services desired by the public; and
WHEREAS, sound financial policies are necessary to carry out that
responsibility; and
WHEREAS, this Statement of Financial Policy provides a summary of significant
financial and budgetary policies required by state law, City ordinances, accounting
principles generally accepted in the United States, and administrative practices; and
WHEREAS, this policy is designed to: 1) provide conceptual standards for
financial decision-making, 2) enhance consistency in financial decisions, and 3)
establish parameters for administration to use in directing the day-to-day financial affairs
of the City; and
WHEREAS, the scope of these policies includes budgeting, financial reporting,
auditing, internal controls, asset management, capital improvement program, debt
management and financial performance targets.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES
HEREBY FIND, ORDER, AND RESOLVE AS FOLLOWS:
Section 1. That the City Council approves the attached Fiscal and Budget
Policies and directs staff to implement said policies.
Section 2. This resolution shall become effective immediately upon its
adoption.
PASSED, APPROVED AND ADOPTED this 5t"day of March, 2019.
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Jo-�I- Luis Solache, Mayor
ATTEST:
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aria Quinonez, ity ClerkJose E. eteotl, City Manager
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
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Noel Tapia, City Attolney J. n Downs ance Director
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
foregoing Resolution was passed and adopted by the City Council of the City of Lynwood
at a regular meeting held on the 5t" day of March 2019, and passed by the following
votes:
AYES: MAYOR PRO TEM CASTRO, COUNCIL MEMBERS CASANOVA,
ALATORRE, SANTANA AND MAYOR SOLACHE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
Maria •uinonez, City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City
Council of said City, do hereby certify that the above foregoing is a full, true and correct
copy of Resolution No. 2019.019 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated.
Dated this 5th day of March 2019.
Maria Quinonez, Ci y Clerk