File #: 19-0583    Version: 1 Name:
Type: Resolution Status: Passed
File created: 5/17/2019 In control: Board of Mayor & Aldermen
On agenda: 6/25/2019 Final action: 6/25/2019
Title: Consideration of Resolution No. 2019-59, A Resolution Adopting A Capital Assets Policy For City Of Franklin (06/13/19 Budget & Finance 4-0)
Sponsors: Eric Stuckey, Kristine Brock, Mike Lowe
Attachments: 1. 2019-59 RES Capital Assets Policy for Department Review.Law Approved.pdf

 

DATE:                                                               June 13, 2019

 

TO:                                          Board of Mayor and Aldermen

 

FROM:                                          Eric Stuckey, City Administrator

                                          Kristine Brock, Assistant City Administrator/CFO

                                          Mike Lowe, Comptroller

                     

                                          

SUBJECT:                                          

title

Consideration of Resolution No. 2019-59, A Resolution Adopting A Capital Assets Policy For City Of Franklin (06/13/19 Budget & Finance 4-0)      

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Purpose

The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning a capital assets policy for the City of Franklin. 

 

Background

When looking at best practices, the City has implemented many of the recommended financial policies, including debt, investments, and fund balance reserves.  Of those few we do not have, the one that has been discussed was a policy for tracking and reporting capital assets. 

 

Financial Impact

Minimal, if any.

 

Recommendation

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Staff recommends approval of the capital assets policy.