BY DORIS B. TRUHLARGOVERNMENTAL REPORTER
The Centennial City Council is considering updates to the city’s fiscal policies.
At its meeting Monday night, the council heard a report by Doug Farmen, Finance Director, in regard to the city’s financial policies. The issue of updating fiscal policies will on the agenda for the council meeting on December 16.
The Centennial Budget Commmittee met four times in 2019, discussing the revenue, expenditure, budget, debt, fund balances, reserve, and capital improvement program policies.
The adopted budget of the city contains an estimate of anticipated revenue from all sources for the coming year, as well as estimates of the expenditures necessary for the operation of city departments.
Department directors have a responsibility to monitor their department’s budget on a regular basis.
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