MRSC, in partnership with the State Auditor’s Office Center for Government Innovation, has developed this series of online resources to help local governments in Washington State develop and adopt effective financial policies and procedures.

MRSC recommends reviewing and updating your financial policies every year as part of the pre-budget process, to make sure your policies are still relevant and meet your jurisdictions' objectives.

Contents

Governments and their financial policy needs vary considerably due to differences in size, scope of activities, organizational and staffing structures, contractual and program structures, technology, and the governing body’s values and priorities. There are many different financial policy approaches that may be consistent with best practices and state law, and policies should be designed by each government according to its needs.

Because there is no “one size fits all” approach, our Tool Kit does not provide “model” financial policies or model policy language. Instead, MRSC has created detailed guidance for a number of topics, including best practices, key questions to consider, and examples from local jurisdictions:

• Financial Policies Overview – Includes benefits of financial policies, examples of comprehensive financial policies, and recommended resources for writing effective policies
• Asset Management Policies
• Cost Allocation
• Credit Card Use Policies
• Debt Management Policies
• Fund Balance and Reserve Policies
• Investment Policies
• Travel and Expense Reimbursement Policies