Government's current policies/practices for reserve or stabilization accounts or other fund reserves
Full Question Text
Some local governments adopt formal policies regarding financial planning and management, while others take a more informal approach. Below is a list of recommendations from the Government Finance Officers Association (GFOA). Thinking across your jurisdiction's various types of funds, generally speaking, please identify which of the following descriptions most closely represents your government's current policies or practices, if any, for reserve or stabilization accounts or other fund reserves (policy(s) to maintain a prudent level of financial resources to weather temporary revenue shortfalls or one-time expenditures).
| % within Jurisdiction Type | ||||||
| Jurisdiction Type | Total | |||||
|---|---|---|---|---|---|---|
| County | Township | City | Village | |||
| Thinking across your jurisdiction's various types of funds, generally speaking, please identify which of the following descriptions most closely represents your government's current policies or practices regarding reserve or stabilization accounts or other fund reserves. | Have a written policy, strictly followed | 28% | 8% | 20% | 16% | 12% |
| Have a written policy, loosely followed | 12% | 3% | 14% | 5% | 5% | |
| Have no written policy, but follow specific practices | 37% | 41% | 44% | 38% | 41% | |
| Have no specific policies or practices | 17% | 27% | 16% | 20% | 24% | |
| Not Applicable | 3% | 11% | 4% | 9% | 9% | |
| Don't Know | 3% | 10% | 2% | 12% | 9% | |
| % within Population Size | |||||||
| Population Size | Total | ||||||
|---|---|---|---|---|---|---|---|
| <1500 | 1500-5000 | 5001-10000 | 10001-30000 | >30000 | |||
| Thinking across your jurisdiction's various types of funds, generally speaking, please identify which of the following descriptions most closely represents your government's current policies or practices regarding reserve or stabilization accounts or other fund reserves. | Have a written policy, strictly followed | 9% | 9% | 12% | 22% | 29% | 12% |
| Have a written policy, loosely followed | 4% | 5% | 7% | 8% | 10% | 5% | |
| Have no written policy, but follow specific practices | 38% | 43% | 42% | 44% | 37% | 41% | |
| Have no specific policies or practices | 25% | 25% | 26% | 18% | 14% | 24% | |
| Not Applicable | 12% | 9% | 6% | 4% | 6% | 9% | |
| Don't Know | 11% | 8% | 8% | 4% | 3% | 9% | |
| % within Region of Michigan | ||||||||
| Region of Michigan | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| Upper Peninsula | Northern Lower Peninsula | West Central Lower Peninsula | East Central Lower Peninsula | Southwest Lower Peninsula | Southeast Lower Peninsula | |||
| Thinking across your jurisdiction's various types of funds, generally speaking, please identify which of the following descriptions most closely represents your government's current policies or practices regarding reserve or stabilization accounts or other fund reserves. | Have a written policy, strictly followed | 14% | 11% | 11% | 10% | 11% | 15% | 12% |
| Have a written policy, loosely followed | 3% | 7% | 5% | 5% | 5% | 6% | 5% | |
| Have no written policy, but follow specific practices | 46% | 39% | 40% | 37% | 42% | 43% | 41% | |
| Have no specific policies or practices | 20% | 25% | 22% | 28% | 26% | 21% | 24% | |
| Not Applicable | 9% | 12% | 11% | 11% | 6% | 7% | 9% | |
| Don't Know | 7% | 6% | 11% | 9% | 10% | 8% | 9% | |