HomeMy WebLinkAbout 18-25 Purchasing & Financial PoliciesRESOLUTION NO.5
A RESOLUTION ADOPTING UPDATED PURCHASING AND FINANCIAL POLICIES
FOR THE TOWN OF FIRESTONE
WHEREAS, the Town of Firestone has previously adopted a set of purchasing and other
financial policies for the Town; and
WHEREAS, the Board of Trustees finds that such policies and procedures should be
updated and that the adoption of a set of current and comprehensive purchasing, investment, debt
management, and capitalization threshold and depreciation policies will promote and support the
efficient and effective use of Town resources and promote the best interests of the Town; and
WHEREAS, there has been presented to the Board of Trustees for adoption a proposed set
of purchasing, investment, debt management, and capitalization threshold and depreciation
policies, which policies have been developed through the collaborative efforts of the Finance
Committee, Town Manager, Department of Finance and other Town department heads,
supervisors, staff and consultants; and
WHEREAS, the Board of Trustees finds that the adoption of such policies is authorized by
law; and
WHEREAS, the Board of Trustees finds that the proposed Purchasing Policy and the award
of bid provisions included therein are solely in support of the Town's fiscal responsibilities,
including administration of annually appropriated funds, and solely for the benefit of the Town of
Firestone, and confer no rights, duties or entitlements to any bidders or proposers; and
WHEREAS, the Board of Trustees by this Resolution to desires to adopt said polices;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO:
Section 1. The Board of Trustees hereby approves and adopts the Town of Firestone
Purchasing Policy, the Town of Firestone Investment Policy, and the Town of Firestone Debt
Management Policy, and the Town of Firestone Capitalization Threshold and Depreciation Policy,
which are attached to this Resolution.
Section 2. The Policies approved and adopted by this Resolution shall take effect July
11, 2018.
Section 3. In furtherance of the Town of Firestone Purchasing Policy, the Town
Controller shall from timeAo-time prepare purchasing procedures applicable to purchases, which
such procedures are subject to approval by the Town Manager or his or her designee.
Section 4. All resolutions and policies or portions thereof previously adopted that are
inconsistent or conflicting with the policies adopted by this Resolution are hereby repealed to the
extent of such inconsistency or conflict.
INTRODUCED, READ, and ADOPTED this day of , 2018.
TOWN OF FIRESTONE, COLORADO
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