Finance - Budget Advisory Committee
The scope of the Budget Advisory Committee:
Work on recommendations to create the following policies:
- Become familiar with General Accepted Accounting Practices (GAAP).
- Review annual budgets with a focus on expenditures and revenues to evaluate and recommend financial strategies that will benefit the Township.
- Review the process used to prepare financial information and reports submitted to the Council.
- Have an understanding of the financial software used by the Finance Office.
- Review and make recommendations on the 5-year planning model.
- Review and make recommendations on financial controls and processes utilized by the Finance Department.
- Minimum General Fund Balance Policy
- Fund Balance Policy
- Long term Capital Planning Policy (investing and debt service policies)
- Prepare a debt service analysis.
- Review annual financial audits, pension audits, and any other mandated audit performed on the Township's finances.
- Meet with Department Heads to review their needs prior to preparation of 2016 Budget.
Click here to see the final Budget Advisory Committee report dated August 4, 2016.