RESOLUTION NO. 2023-06
RESOLUTION NO. 2023-06 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POMONA, CALIFORNIA ADOPTING THE CITY’S UPDATED CONSOLIDATED FISCAL POLICIES AND ADMINISTRATIVE PROCEDURES WHEREAS, The purpose of the consolidated fiscal policies is to guide the City’s financial planning to meet financial obligations while providing high quality services.
WHEREAS, staff presented a draft of the Updated Consolidated Fiscal Polices and Administrative Procedures to the City Council Labor Subcommittee on July 11, 2022, November 30, 2022, and January 11, 2023.
WHEREAS, on May 2, 2011 the City adopted Resolution No.2011-49 Fiscal Sustainability Policy and on June 20, 2011 adopted Resolution No.2011-63A Fund Balance Policy which will be repealed by this Resolution No.2023-06 in order to have a single Resolution approving all City of Pomona Financial policies and procedures in one action; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Pomona as follows:
SECTION 1. Resolution No.2011-49 and Resolution 2011-63A adopting the Fiscal Sustainability and Fund Balance Policy respectively are hereby repealed via this Resolution 2023-06.
SECTION 2. The City Council hereby adopts the following financial policies and procedures as detailed in Exhibit A titled “City of Pomona Consolidated Fiscal Policies and Administrative Procedures” Fiscal Operations
Budget Adoption and Administration – City Council Policy (CCP) Cash Management – Staff Administrative Policy (SAP)
Accounting, Auditing and Financial Reporting (SAP)
Economic Development (CCP)
Risk Management (SAP)
Grant Management and Administrative Policy (SAP)
Travel and Expense Policy (SAP)
Purchasing Policies and Procedures (SAP)
Procurement Card Policy and Procedures (SAP)
Fund Balances, Reserves & Surplus (CCP)
Fiscal Sustainability Plan Elements (CCP)
Pension and OPEB Funding (CCP)
Capital Improvement (CCP)
Capital Asset Management (SAP)
Debt Management (CCP)
Investments (CCP)
SECTION 3. The City Clerk shall attest and certify to the passage and adoption of this Resolution, and it shall become effective immediately upon its approval.
PASSED, APPROVED AND ADOPTED this 6th day of February 2023.
CITY OF POMONA:
______________________________
Tim Sandoval
Mayor
APPROVED AS TO FORM: ATTEST:
________________________________ ______________________________ Sonia Carvalho Rosalia A. Butler, MMC
City Attorney City Clerk
I, HEREBY CERTIFY that the foregoing resolution was duly adopted by the City Council of the City of Pomona at a regular meeting thereof held on February 6, 2023 by the following vote of the Council:
AYES:
NOES:
ABSTAIN:
ABSENT:
Rosalia A. Butler, MMC
City Clerk
Resolution No. 2023-06
February 6, 2023
Resolution No. 2023-06
February 6, 2023
ATTACHMENT NO. 1