the municipal secretary desktop reference manual - Southwestern ...

Fiscal Management Control Policies
DO maintain all its assets at a level adequate to protect the municipality's capital
investment and to minimize future maintenance and replacement costs
DO establish an equipment reserve fund and appropriate funds to it annually to provide for
timely replacement of equipment
DON'T use bonds to finance capital projects and equipment which will exceed the useful
life of the project or equipment
DO retire tax anticipation debt annually
DON’T let anyone but the treasurer become the custodian of the municipality's money -- no
private cigar boxes for police departments, parks and recreation departments, etc.
DO make certain that the jurisdiction receives copies of the annual financial report from
municipal authorities created by the municipality and the annual financial and compliance
audit of the jurisdiction=s earned income tax collector
DO provide monthly reports to the governing body on income and expenditure flows
compared with budget estimates
DO give serious consideration to the auditor’s management letter recommendations
DO fix the mileage rate for all municipal officials or employees required to use their
vehicles for municipal business
DO exercise control over employee overtime
DO consider cooperative purchasing, with state, county, or councils of government
DO use competition in purchasing regardless of the legal limit and the professional services
exemptions
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