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Local Agency Financial Policies & Practices

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Financial policies can provide a solid foundation for sound public agency fiscal practices.

Adopted by the governing body, such policies provide:

  • A means through which the governing body can communicate its collective policy judgments and goals to staff, the public and others.
  • Direction to staff and standards against which
    • Current practices can be measured and
    • Proposals for changes in practices can be evaluated.

Ratings agencies (who assess local agencies’ credit for borrowing) also look at local agencies’ financial policies; well crafted polices can mean higher rating grades which can translate into lower borrowing costs.

For more information, including questions to ask about financial policies, see information at right.

Video
Interview with Bill Statler

Interview with Bill Statler

Former Local Agency Finance Director, Bill Statler, offers helpful notes for staff and discusses the principals of financial Management.

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