The City of White Oak is committed to financial transparency to its citizenry and has established a comprehensive online resource for citizens to review monthly, quarterly, and annual financial documents.
The City is proud of healthy fund balances and is committed to a level of sustainability for its citizens. Every effort has been made to ensure current and easy accessibility to City financial information for citizens and other stakeholders. The documents and other information available below provide a comprehensive picture of the City's financial condition. Please direct questions about these documents to the Director of Finance. For information not included below, please fill out a Public Information Request and follow the instructions on the form.
Financial PoliciesThe City of White Oak adopted its Fund Balance Policy in response to Governmental Accounting Standards Board's (GASB) Statement #54; Fund Balance Reporting and Governmental Fund Type Definitions. The adopted policy sets guidelines for the general fund balance, including the requirement of an unassigned fund balance that equals to six (6) months of operating expenses.
The City's Investment Policy is ratified every January in order to make any necessary changes and to remain in compliance with the Public Funds Investment Act. The Policy addresses the methods, procedures, and practices that must be exercised to ensure effective and judicious fiscal management of the City's funds. City staff has placed safety as its primary objective concerning investment activity.