Fund Balance Policy
The City of Hastings has established a policy to maintain appropriate fund balance levels for each of the City’s funds. Fund balances are necessary in order to maintain adequate reserves for cash flow, capital replacements, compensated absences and contingency. This policy is established to provide guidance on how to designate fund balance at the end of each fiscal year.
It is the Policy of the City to invest public funds in a manner which provides the highest investment return with the maximum security.
Budget Stabilization Policy
This purpose of this policy is to stabilize the City’s budgeting cycles from year to year through intentional long-term planning.
Debt Management Policy
The purpose of this policy is to establish parameters and provide guidance governing the issuance, management, continuing evaluation of and reporting on all debt obligations issued by the City of Hastings.
Fixed Asset Policy
The City of Hastings has established a policy to establish guidelines for the recording and tracking of the City’s assets and infrastructure.