Fiscal Policies Budget Law - Kansas law prescribes the policies and procedures by which the City prepares its annual budget. The City maintains budgetary controls to ensure compliance with legal provisions embodied in the annual budget approved by the City's Governing Body. The annual budget contains an estimate of the anticipated revenue and the proposed expenditures necessary to meet the City's needs. The level of budgetary control (the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. Kansas Statutes (K.S.A. § 79-2927 et seq.) require that an annual operating budget be legally adopted for the General Fund, Special Revenue Funds (unless specifically exempted by statute), Debt Service Funds, and certain Enterprise Funds. A legal annual operating budget is not required by the State of Kansas for certain other funds. Reserve Policy - Resolution 11-24-01 adopted on November 18, 2024, established the City of Tonganoxie Reserve Policy which requires that at a minimum the General Fund reserve will be equal to at least 30% of operating expenditures. The policy was adopted in order to ensure that the City of Tonganoxie’s level of reserves stays consistent over time with the scale of resources necessary to fund services and governmental activities. The adopted policy includes details about acceptable uses of reserves, authority to utilize reserves, and strategies for replacement of reserves when necessary.
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