title
ACCEPTANCE AND APPROVAL OF THE
DUPAGE COUNTY FINANCIAL AND BUDGET POLICIES
resolution
WHEREAS, the County Board is the fiscal authority for DuPage County government; and
WHEREAS, the County Board is responsible for the fiscal, financial and budgetary management of the County (55 ILCS 5/5-1016); and
WHEREAS, the County Board may install an adequate system of accounts and financial records in the offices and divisions of the County which are suitable to the needs of the office and in accordance with generally accepted principles of accounting for government bodies (55 ILCS 5/5-1005(16)); and
WHEREAS, the County Board finds the need to develop financial and budget policies to provide for prudent financial practices and to deliver essential County services at the lowest possible tax rate using a transparent budget process that maintains the County's bond rating; and
WHEREAS, the purpose and objectives of said financial and budget policies are, to the fullest extent practicable, to: earn and maintain the public's trust in the County's collection, use, and conservation of public funds; ensure the legal and appropriate use of County funds through a system of internal financial controls; provide reasonable assurance that financial records are reliable by abiding by generally accepted accounting principles as applied to governmental entities; and provide financial information in a clear and transparent manner; and
WHEREAS, the budgetary and financial framework for policy-making will strive to: prepare accurate and timely budgetary, financial, and socio-economic information for policymaking; identify and establish principles that minimize the County government's cost and financial risk; provide financial principles to guide financial and management decisions; and provide information regarding the County government's current financial condition.
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