Item Coversheet



BOCC AGENDA ITEM


Item Title:Financial Policies Update
Date:11/9/2020
Department:OMB
Background:

As part of the annual budget process, in accordance with policy 1.7, Board financial policies are reviewed with proposed updates presented for Board consideration.  Financial policies were first adopted by Resolution 2006-151, with the last update approved October 8, 2018 (Resolution 2018-117).

The proposed update includes language clarification on the existing $100K approval threshold in sections 1.6 (b) and (c) of the operating budget policies. It also adds section 1.15 (a) and (b) under operating budget policies to require BOCC approval for all changes in FTE count or number of authorized positions, and to require budget for all newly authorized positions to be held in reserve until filled.  

Request:
Approve a Resolution updating Resolution 2018-117, Financial Policies for the Board of County Commissioners, providing for an effective date.
Financial/Economic Impact to Future Years Budgeting Process or Effect on Citizens:
Adopted financial policies are followed when formulating and adopting the annual budget and subsequent changes.
Action Requested and Recommendation:
Approve a Resolution updating Resolution 2018-117, Financial Policies for the Board of County Commissioners, providing for an effective date.
Is this action consistent with the Nassau County Comprehensive Land Use Plan?
NA
Funding Source:
N/A

Additional Information Needed for Contracts/Agreements (If Applicable)
Contract Number assigned by Contracts Management:
N/A
For non-governmental agencies, has the document been sent to the vendor for signature?
N/A
Does the document need to be recorded? If so, who will pay the recordation fee?
N/A
Are there any special mailing instructions? (Include contact name, address, deadline for submittal, how to mail such as express mail, FedEx, etc):
N/A
How many originals are needed?
N/A

ATTACHMENTS:
DescriptionUpload DateType
Financial Policies Resolution11/2/2020Cover Memo