Financial Policies

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Fund Balance Policy

The City of Hastings has established a policy to maintain appropriate fund balance levels for each of the City’s funds. Fund balances are necessary in order to maintain adequate reserves for cash flow, capital replacements, compensated absences and contingency. This policy is established to provide guidance on how to designate fund balance at the end of each fiscal year.

Fund Balance Policy

 

Investment Policy

It is the Policy of the City to invest public funds in a manner which provides the highest investment return with the maximum security.

2015 Investment Policy

 

Budget Stabilization Policy

This purpose of this policy is to stabilize the City’s budgeting cycles from year to year through intentional long-term planning. 

Budget Stabilization Fund Policy

 

Debt Management Policy

The purpose of this policy is to establish parameters and provide guidance governing the issuance, management, continuing evaluation of and reporting on all debt obligations issued by the City of Hastings.

Debt Management Policy

 

Fixed Asset Policy

The City of Hastings has established a policy to establish guidelines for the recording and tracking of the City’s assets and infrastructure.

Fixed Asset Policy