Budgeting Best Practices
Achieving a Structurally Balanced Budget
Adopt rigorous policies, for all operating funds, aimed at achieving and maintaining a structurally balanced budget
Adopting Financial Policies
Governments should formally adopt financial policies. Steps to consider when making effective financial policies include (1) scope, (2) development, (3) design, (4) presentation, and (5) review.
Fund Balance Guidelines for the General Fund
Governments should establish a formal policy on the level of unrestricted fund balance that should be maintained in the general fund for GAAP and budgetary purposes.
Recommended Budget Practices from the National Advisory Council on State and Local Budgeting
Working Capital Targets for Enterprise Funds
Local governments should adopt a target amount of working capital to maintain in each of their enterprise funds. Additionally, governments should use working capital as the measure of available margin or buffer in enterprise funds.