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<br />ACCOUNTING POLICIES AND PROCEDURES <br /> <br />CITY OF SUNNY ISLES BEACH <br /> <br />SPENDING ORDER OF FUND BALANCES <br /> <br />The City uses restricted amounts to be spent first when both restricted and unrestricted fund balance is <br />available unless there are legal documents/contracts that prohibit doing this, such as in grant agreements <br />requiring dollar for dollar spending. Additionally, the City would first use committed fund balance, followed <br />by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for <br />which amounts in any of the unrestricted fund balance classifications could be used. <br /> <br />ANNUAL REVIEW <br /> <br />Compliance with the provisions of this policy shall be reviewed annually. The City Manager or designee shall <br />issue a report on an annual basis to the City Commission outlining compliance with the fund balance policy. <br /> <br />FUND BALANCE POLICY <br />