Restricted Surplus Policy 447 rev May 2022
PURPOSE AND INTENT
The purpose of this policy is to establish guidelines and the approach for the management of existing restricted surplus accounts and the establishment of new Restricted Surplus Accounts. The adoption of a Restricted Surplus Account Policy is a prudent business practice that will enhance the City of Chestermere's financial strength, flexibility, sustainability and cash flow management. A Restricted Surplus Account Policy is required to establish, maintain and manage Restricted Surplus Account funds that:
- maintain and improve City of Chestermere's working capital requirements;
- provide for future operating and capital, including infrastructure replacement, requirements;
- address the overall current and future initiatives of the City of Chestermere; and
- provide for offsetting unanticipated fluctuations in operating and capital activities.
Click here to read the complete policy: Restricted Surplus Policy 447 rev May 2022