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Council reviews financial management policy rewrite; staff proposes 25%–45% reserve rule and grant‑match approval triggers
Summary
Staff presented edits to the financial management policy that simplify fund definitions, remove duplicate procurement language, and add a reserve policy with a 25% minimum and 45% maximum; council asked staff to add charter budget calendar language and to require council approval before applying for grants that require a local match.
Stonecrest staff presented a rewritten financial management policy to the council on March 10 that simplifies fund definitions, centralizes procurement references, sets reserve targets, and proposes clearer grant‑application rules.
Finance staff said the draft clarifies standard budget definitions — for the general fund, special revenue funds and capital project funds — using guidance from the Government Finance Officers Association and the Georgia…
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