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Policy FP-7: For the purpose of compliance with Tukwila Municipal Code Section <br />3.32.040, "Unbudqeted Equipment or Fixed Assets," "unbudqeted" shall mean when <br />a department's capital asset line item has insufficient budget for the desired purchase. <br />Capital equipment or fixed asset purchases between $5,000 - $39,999 are not subject <br />to TMC 3.32.040 and do not require Council Committee approval if there is sufficient <br />budget, unless there is a policy implication. <br />Enterprise Funds <br />Policy FP-87: Each Enterprise Fund shall be reviewed annually and it must have a <br />rate structure adequate to meet its operations and maintenance and long-term capital <br />requirements. <br />Policy FP-98: Enterprise Fund rRate increases shall be small, applied frequently, and <br />staggered to avoid an overly burdensome increase and undue impact in any given <br />year. <br />Policy FP-10-9: Enterprise Fund rRate increases of external agencies (i.e. King County <br />secondary wastewater treatment fees) will be passed through to the users of the <br />utility. <br />Other General Financial Policies <br />Policy GF-1: The City's various user charges and fees shall be reviewed at least every <br />three years for proposed adjustments based on services provided and comparisons with <br />other jurisdictions. <br />Policy GF-2: The Finance Director shall provide a financial status update at least quarterly. <br />Policy GF-3: Budget amendments during the year may be approved by budget motion until <br />the end of the budget year, at which time a formal comprehensive budget amendment is <br />submitted. <br />Policy GF-4: The City shall, whenever practical and advantageous, take advantage of <br />grants, loans, or other external financial sources. With the exception of capital improvement <br />program grants requiring a local match, staff shall report to and seek the approval of the <br />appropriate Council Committee before finalizing the grant. <br />Policy GF-5: Funds exceeding the Mayor's allocated signature authority shall not be <br />moved between City departments without prior approval of the City Council. <br />Policy GF-6: The City Council shall receive an updated list of all contracts every quarter, <br />including the amount, responsible department, scope of work, and expiration date. <br />78 <br />Page 2 of 2 <br />