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Bristol council approves updated financial policies, folds budget policy into finance policy
Summary
The council approved updates to the city's financial policies Jan. 28, 2025, incorporating the standalone budget policy, removing a now-defunct solid waste fund reference and confirming budget and debt guidelines, the assistant city manager and CFO said.
The Bristol, Virginia City Council approved updates to the city's financial policies on Jan. 28, 2025, following a presentation by the assistant city manager and chief financial officer, who said the revisions were recommended by the finance committee.
The changes incorporate the city's prior standalone budget policy into the overall financial policy, add explicit references to the state code for the reassessment and budget process, and remove language referencing a solid waste fund that the city no longer maintains. The assistant city manager and CFO told council the revisions aim to promote long-term fiscal stability, protect the city's credit rating and provide clearer guidance on appropriations and budget adjustments.
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