EXPENDITURE POLICY

Expenditure Classification

City expenditures are classified and reported within these classifications:

Personnel Services

Includes salaries for full-time and part-time employees, overtime pay, insurance, retirement and other costs related to the City’s employees.

Contracted Services

Includes services contracted by the City to enhance operations or perform specific services or projects, such as engineering, auditing, consulting or other professional service.

Other Services and Supplies

Includes administrative expenditures such as office supplies, subscriptions, professional development, utility charges and operating leases. Capital Expenditures may be recorded in any City fund. When making capital purchases, the financial impacts for future years, including repairs and maintenance to the asset, are considered in addition to the feasibility of purchases that may create cost savings in future years.

Expenditure Monitoring

Expenditures will be monitored by Staff and City Council per City Budget Policy.

MULTI-YEAR FINANCIAL PROJECTIONS

Expenditure projections will be based on an established set of assumptions and updated each year. The projections will include inflationary projections. Expenditure classifications will be refined and customized for more accurate financial projections in reporting to the City Council and citizens.