HomeMy WebLinkAboutR-25-34 Adopting the Financial Policies for FY 2025-2026CITY OF SEBASTIAN
RESOLUTION NO. R-25-34
A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER
COUNTY, FLORIDA, ADOPTING FINANCIAL POLICIES
GOVERNING VARIOUS AREAS OF BUDGET AND FINANCE AS
PROVIDED FOR IN ATTACHMENT "A"; PROVIDING FOR
CONFLICTS; PROVIDING FOR SCRIVENER'S ERRORS; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Government Finance Officers Association of the United States and Canada
recommends best practices in various areas for Finance and Budget; and
WHEREAS, the City Council deems it to be necessary to adopt and readopt such financial
policies on an annual basis,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SEBASTIAN, FLORIDA, AS FOLLOWS:
SECTION 1. ADOPTION OF FINANCIAL POLICIES. The City Council of the City of
Sebastian hereby adopts Financial Policies attached hereto as Attachment "A" governing the Operating
Budget, Revenue, Performance Measurement, Investment, Capital Improvement Plan, Debt Management,
Fund Balance and Use of Surplus.
SECTION 2. CONFLICTS. All resolutions or parts of resolutions in conflict herewith are
hereby repealed.
SECTION 3. SCRIVENER'S ERRORS. Sections of this Resolution may be renumbered or re -
lettered and corrections of typographical errors which do not affect the intent may be authorized by the
City Manager, or the City Manager's designee, without need of further action of City Council by filing a
corrected copy of same with the City Clerk.
SECTION 4. EFFECTIVE DATE. This Resolution shall take effect upon adoption.
The foregoing Resolution was moved for adoption by Council Member Dodd . Motion
was seconded by Council Member Jones and, upon being put to a vote, the vote was as
follows:
Mayor Bob McPartlan
Vice -Mayor Fred Jones
Councilmember Ed Dodd
Councilmember Christopher Nunn
aye
aye
aye
aye
The Mayor thereupon declared this Resolution duly passed and adopted this 15th day of September,
2025.
CITY OF�SEBASTIAN,
oFLORIDA
By: �
Bob Mc artlan, Mayor
ATTEST-
J#mette Williams, City Clerk
Approved as to Form and Legality for
Reliance by t (?fty of Sebastian Only: --
By: _ l/l
Je fer Cockcroft, Cit Attorney