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Fort Walton Beach Resolution — 2024-12 Amending Admin Policy #14 Fund Balance & Net Assets — reading text
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5. 1 The City Council establishes the following wed commitment of fund balance
for the Florida Building Code Fund:
5. 1. 1
and other. ;qAtmr-RI dis
impaet the City' s ability to eeiAintte operations and provide sepviees. The
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annual budgeted expenditures. The City may not carry forward in fund
balanee balances in an amount exceeding the average of its operating
budget for enforcing the Florida Building Code for the previous four fiscal
years per Florida Statute 553. 80( 7).
5. 1. 2 rirtheiev@i+ thM eemmiAed fund bale—
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6. ANNUAL REVIEW AND DETERMINATION
6. 1 Compliance with the provisions of this policy shall be reviewed as part of the annual
budget adoption process and revisions to the levels of fund balance will be determined
during this process.
7. ADDITIONAL INFORMATION REQUIREMENTS AND RESPONSIBILITIES
7. 1 It will be the responsibility of the Finance Director to uphold this policy and keep it
current.
8 AUTHORITY
8. 1 Resolution 2nd 2024- 12. adopted on September 43-,-2022-24. 2024.
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