Financial policies may be established and revised from time to time by resolution adopted by the Borough Council for the purpose of setting forth guidelines for the management of the fiscal affairs of the Borough of Lansdowne to include, but not be limited to, financial policies relative to the general fund balance, nonrecurring revenues, the funding of capital expenditures and the annual budget process.
[HISTORY: Adopted by the Borough Council of the Borough of Lansdowne 1-4-2023 by Ord. No. 2023-01.[1] Amendments noted where applicable.]
[1]
Editor's Note: This chapter, adopted as Ch. 178, was renumbered to fit the organization of the Code.
Consistent with the establishment and implementation of financial policies of the Borough of Lansdowne, the following new funds shall be created in order to establish and maintain a fund balance:
A.
General Fund. The General Fund is used to account for all financial resources not accounted for and reported in another fund. This is the main operating fund of the Borough.
B.
Special Revenue Funds. This account is used for the proceeds of specific revenue sources that are restricted or committed to expenditures for specific purposes and include, without limitation, the Sewer Fund and the Liquid Fuels Fund.