HomeMy WebLinkAboutWA Res 26-17 Approving WA Financial Policies w ExhibitResolution WA 26-17 Page 1
WESTLAKE ACADEMY
RESOLUTION NO. 26-17
A RESOLUTION OF THE WESTLAKE ACADEMY BOARD OF TRUSTEES ADOPTING
FINANCIAL POLICIES. ESTABLISHING FINANCIAL MANAGEMENT, INTERNAL
CONTROL, PURCHASING, CONTRACTING, CASH MANAGEMENT, AND FISCAL
ACCOUNTABILITY REQUIREMENTS; AUTHORIZING IMPLEMENTATION; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Westlake Academy Board of Trustees ("Board") is responsible for the
governance, oversight, and stewardship of the financial resources of Westlake Academy; and
WHEREAS, the Board recognizes its fiduciary obligation to ensure that public funds
entrusted to the Academy are managed in a lawful, transparent, accountable, and fiscally responsible
manner; and
WHEREAS, the Board desires to establish comprehensive financial policies governing
financial administration, budgeting, purchasing, contracting, cash management, procurement card
usage, fund balance management, financial reporting, and related fiscal operations; and
WHEREAS, Academy administration has developed and presented to the Board a
comprehensive Financial Policies Manual entitled "Westlake Academy Financial Policies – June
2026," which is designed to promote sound financial management practices, compliance with
applicable laws and regulations, and responsible stewardship of Academy resources; and
WHEREAS, the Board has reviewed the proposed Financial Policies and finds that adoption
of such policies is in the best interests of Westlake Academy and supports the Academy's mission
and long-term financial sustainability.
NOW, THEREFORE, BE IT RESOLVED BY THE WESTLAKE ACADEMY BOARD OF
TRUSTEES THAT:
SECTION 1: The document entitled "Westlake Academy Financial Policies – June
2026," attached hereto as Exhibit A and incorporated herein by reference for all purposes, is hereby
adopted as the official Financial Policies of Westlake Academy.
SECTION 2._ The adopted Financial Policies shall govern the financial operations of
Westlake Academy, including but not limited to:
• Financial authority and administration;
• Use of state funds;
• Basis of accounting and budgeting;
• Annual budget development and amendments;
• Fund balance management;
• Financial reporting and accountability;
• Purchasing authority;