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Legislation #: 080431 Introduction Date: 4/24/2008
Type: Ordinance Effective Date: 5/25/2008
Sponsor: COUNCILMEMBER HERMANN
Title: Amending Chapter 2 of the Code of Ordinances of Kansas City by enacting a new article “Budgetary and Financial Policies” and enacting a new section which establishes a Non-Recurring Revenue Policy for the City.

Legislation History
DateMinutesDescription
4/24/2008 Filed by the Clerk's office
4/24/2008 Referred to Finance and Audit Committee
4/30/2008 Hold On Agenda (5/7/2008)
5/7/2008 Do Pass as a Committee Substitute
5/8/2008 Assigned Third Read Calendar as Substituted
5/15/2008 Passed as Substituted

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080431.pdf Authenticated 67K Authenticated

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 080431

 

Amending Chapter 2 of the Code of Ordinances of Kansas City by enacting a new article Budgetary and Financial Policies and enacting a new section which establishes a Non-Recurring Revenue Policy for the City.

 

WHEREAS, the City is desirous of adopting sound fiscal policies that provide a stable framework for the efficient and effective provision of public services; and

 

WHEREAS, best practice recommendations of the Government Finance Officers Association (GFOA), and the National Advisory Council on State and Local Budgeting (NACSLB) strongly recommend the adoption of a non-recurring revenue policy by local governments; and

 

WHEREAS, the Governance Plan of the Citys adopted strategic plan known as FOCUS (Forging Our Comprehensive Urban Strategy) recommends that one-time resources be used for only one-time purposes; and

 

WHEREAS, efforts to fully resolve the Citys chronic structural budget problems must contain formal statements adopted by the City to restrain the City from making short-term decisions that have long-run negative implications on the City budget and the provision of important public services in the City; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That Chapter 2 the Code of Ordinances of Kansas City, Missouri hereby amended by enacting a new article Budgetary and Financial Policies and new section establishing a non-recurring revenue policy, all to read as follows:

 

ARTICLE XIV. BUDGETARY AND FINANCIAL POLICIES.

 

Section 2-1950. Non-recurring Revenue Policy.

 

It is the policy of the City of Kansas City, Missouri that one-time or limited term resources such as proceeds from asset sales, debt refinancing, one-time grants, legal settlements, revenue spikes, budget savings and similar nonrecurring resources shall not be used for current or new and ongoing operating expenses. Appropriate uses of one-time resources include building and maintaining the unallocated reserves in the General Fund or other City funds, the early retirement of debt, capital improvement or capital maintenance expenditures and other nonrecurring expenditures.

 

Section 2-1951--2-1990. Reserved.

_____________________________________________

 

Approved as to form and legality:

 

___________________________________

Heather A. Brown

Assistant City Attorney