Summary Sheet- RFCA SUMMARY

CITY OF TEMPE
Meeting Date: 6/25/2026  
REQUEST FOR COUNCIL ACTION
Agenda Item: 7C1
ACTION:  Adopt a resolution approving Comprehensive Financial Policies for the City of Tempe. 
(Resolution No. R2026.70)
FISCAL IMPACT:  The adopted Financial Policies will provide guidance to the City for financial and 
budgeting decisions.
RECOMMENDATION:  Adopt Resolution No. R2026.70.
 
BACKGROUND INFORMATION:  The City currently has a number of financial policies that have 
been adopted by City Council through various resolutions.  Staff recommends consolidating these 
various policies into a single document that is adopted by City Council annually, corresponding with the 
annual budget process.  Having the City’s Financial Policies in a comprehensive document that is 
reviewed and adopted annually by City Council is a recommended best practice from the Government 
Financial Officers Association (GFOA).  
Included in the proposed Comprehensive Financial Policies is a new formal fund balance policy for the 
Emergency Medical Transport Fund, changes to the calculation of the Water/Wastewater Fund fund 
balance policy and the codification of the City’s budget transfer rules. The Comprehensive Financial 
Policies and the substantive changes within the proposed polices were discussed with City Council 
during the Budget Review Session on April 23, 2026.
The proposed Comprehensive Financial Policies would replace policies adopted on resolutions 
R2009.03, 2011.50, 2011.56, 2013.79, 2015.76, 2016.42, and 2025.45.  A redline showing the changes 
from the previously adopted changes to the proposed Comprehensive Financial Policies is attached.
ATTACHMENTS:    
1. RESOLUTION.DOCX
2. EXHIBIT A - COMPREHENSIVE FINANCIAL POLICIES FINAL REDLINE.PDF
STAFF CONTACT(S):  Robert Baer, Municipal Budget Director, (480) 350-8697
Department Director:  Robert Baer, Municipal Budget Director  
Legal review by:  Dave Park, Sr Assistant City Attorney
Prepared by:  Robert Baer, Municipal Budget Director