HomeMy WebLinkAboutresolution.council.029-21RESOLUTION NO.29
(SERIES OF 2021)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO UPDATING THE CITY OF ASPEN FINANCIAL POLICIES TO
REFLECT CHANGES IN STATE STATUTE AND OTHER INVESTMENT
CRITERIA.
WHEREAS, the financial and investment policies represent the best practices of
governmental financial management and establishment of guidelines for financial
planning, expenditures and revenues; and
WHEREAS, the financial and investment policies help to ensure the City maintain
sufficient reserves, maximizes the effectiveness of its expenditures and preserve the safety
of the City's public funds; and
WHEREAS, the Governmental Financial Officers Association (GFOA)
recommends the establishment of formal financial policies to guide governmental decision
making, develop approach to achieve goals, develop a budget consistent with achieving
these goals, evaluate performances and make adjustments; and
WHEREAS, City Council has requested a linkage between the investment of
public funds and the environmental stewardship of the entities that the City includes within
its investment portfolio, and allow for a metric to be established and applied so as to not
indirectly support the harmful effects some institutions may have on the environment;
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF
THE CITY OF ASPEN, COLORADO does hereby approve of the updated financial and
investment policies attached hereto, including the changes driven by amendments to the
Colorado State Statutes.
ADOPTED THIS 9th day of March 2021,
Torre, Mayor
I, Nicole Henning, duly appointed and acting City Clerk of the City of Aspen, Colorado,
do hereby certify that the foregoing is a true and correct copy of the Resolution adopted by
the City Council at its meeting held on March 9, 2021.
Nicole Henning, City Clerk