Financial Policies
The key to the sound fiscal health of the City is proper accounting, budgeting and auditing. The City of Northville’s financial policies provide the basic framework for the overall fiscal management of the City. These policies provide guidelines to the City Council and administration for evaluating both current activities and proposals for future programs. Most of the policies represent long-standing principles and practices that have guided the City in the past and have helped maintain financial stability. The City’s financial policies also serve the administration in the preparation of a balanced operating budget.
Investment Policy
It is the policy of the City of Northville to invest public funds in a manner which will provide the highest investment return with the maximum security while meeting the daily cash flow needs. The City's investment policy is intended to comply with all State of Michigan statutes and local ordinances governing the investment of public funds. The City was awarded national certification for its Investment Policy from the Association of Public Treasurers of the United States and Canada (APT US&C) in December 2024.
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Contract Administration - Conflict of Interest Policy
No employee, officer, or agent may participate in the selection, award, or administration of a Federal or non-Federal contract if he or she has a real or apparent conflict of interest.
Grant Policy
The purpose of this Grant Policy is to establish guidelines and procedures for the management and administration of grants awarded to the City of Northville, ensuring compliance with 2 CFR 200 uniform grant guidance and other applicable local, state, and federal regulations.
Fund Balance Policy
Establishes a minimum unassigned fund balance in the General Fund.