Fiscal Policies

White Bear Township has an important responsibility to its citizens to plan the adequate funding of services desired by the public, including the provision and maintenance of public facilities, to manage municipal finances wisely, and to carefully account for public funds. The Township strives to ensure that it is capable of adequately funding and providing local government services needed by the community. The Township will maintain or improve its infrastructure on a systematic basis to insure its citizens will maintain quality neighborhoods.

In order to achieve this purpose, this plan has the following objectives for the Township's fiscal performance:

1. To protect the Town Board's policy-making ability by ensuring that important decisions are not controlled by financial problems or emergencies.

2. To enhance the Town Board's policy-making ability by providing accurate information on the full cost of various authority or service levels.

3. To assist sound management of the Township government by providing accurate and timely information on financial condition.

4. To provide sound principles to guide the important decisions of the Town Board and of management which have significant fiscal impact.

5. To set forth-operational principals which minimize the cost of local government, to the extent consistent with services desired by the public, and which minimize financial risk.

6. To employ revenue policies and forecasting tools to prevent undue or unbalanced reliance on certain revenues, especially property taxes, which distribute the cost of municipal services fairly, and which provide adequate funds to operate desired programs.

7. To provide essential public facilities and prevent deterioration of the Township's infrastructure including its various facilities.

8. To protect and enhance the Township's credit rating and prevent default on any municipal debts.

9. Ensure the legal use and protection of all Township funds through a good system of financial and accounting controls.

10. Record expenditures in a manner, which allocates to current taxpayers and/or users the full cost of providing current services.

To achieve these objectives the following fiscal policies have been adopted by the Town Board to guide the Township's budgeting and financial planning process. Each fiscal policy section includes the purpose and a description.
I. Operating Budget Policies 
II. Revenue Policies 
III. Expenditure Policies 
IV. Accounting, Auditing & Financial Reporting Policy 

V. Investment Policies 
VI. Reserve Policies 
VII. Debt Policies 
VIII. Capital Equipment Policies 
IX. Capital Improvement Program Policies 
X. Risk Management Policies

XI. Special Assesstment Policies