!Resolution No. 63-26 Amendment to Financial Operating Policies (smf 06.02.26).pdf

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RESOLUTION NO. 63-26 
 
A RESOLUTION OF THE MAYOR AND COUNCIL OF THE CITY OF BUCKEYE, 
ARIZONA, AMENDING THE FINANCIAL OPERATING POLICIES OF THE CITY 
OF BUCKEYE; PROVIDING FOR REPEAL OF CONFLICTING RESOLUTIONS; 
PROVIDING FOR SEVERABILITY; AND PROVIDING FOR CHANGES TO THE 
FINANCIAL POLICIES TO CONFORM. 
WHEREAS, the Financial Operating Policies (“FOP”) establish the framework for overall 
fiscal planning and management and set guidelines for both current activities and long-range 
planning; and 
WHEREAS, the FOP goals are to maintain financial stability and be able to adapt to 
changes in the economy or new services while adhering to practices established by the 
Government Finance Officers Association; and 
WHEREAS, the FOP provides guidance and clarity on the structure and development of 
the budget, defining the budget control system, how to amend the budget and specific revenue 
and expenditure principles to ensure ongoing financial sustainability and operating practices, and 
administrative-level authority for budget transfers; and 
WHEREAS, the proposed amendments to the FOP address debt management including 
debt limitations, investment of bond proceeds, and refunding bonds; budget transfers; revenue 
and expenditure principles; asset management; investment policy; and fund reserve policy. 
 
BE IT RESOLVED by the Mayor and Council of the City of Buckeye, Arizona, as follows: 
 
Section 1. 
The recitals above are hereby incorporated as if fully set forth herein. 
 
 
Section 2. 
The amended FOP dated June 16, 2026, now titled “Financial Operating 
Policy,” that is on file with the Office of the City Clerk, is hereby approved. 
 
Section 3. 
The Mayor, City Manager, City Attorney, and City Clerk are hereby 
authorized and directed to take all steps necessary to carry out the purpose and intent of this 
Resolution. 
 
BE IT FURTHER RESOLVED that all resolutions or parts of resolutions in conflict with the 
provisions of this Resolution are hereby repealed. 
 
BE IT FURTHER RESOLVED that if any section, subsection, sentence clause, phrase or 
portion of this Resolution is for any reason held to be invalid or unconstitutional by the decision of 
any court of competent jurisdiction, such decision shall not affect the validity of the remaining 
portions thereof.

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PASSED AND ADOPTED by the Mayor and Council of the City of Buckeye, Arizona, this 
16th day of June, 2026. 
 
 
 
 
 
 
 
_____________________________________ 
 
 
 
 
 
 
 
Eric W. Orsborn, Mayor 
ATTEST: 
 
____________________________________ 
Lucinda J. Aja, City Clerk 
 
 
APPROVED AS TO FORM: 
 
 
 
 
____________________________________ 
 
Tosca Henry, City Attorney