Page 414 - City of Arlington FY19 Adopted Operating Budget

Financial/Economic Development

Goal 1: Continue Responsible Fiduciary Emphasis for the Organization and Council
Objective 1: Comply with all Financial Regulations and Policies
Project Performance Measure(s) City Service Team (Department)
Core Implement Applicable GASB  GFOA Certificate of Excellence Finance (Accounting)
FED Statements for FY 2018  CAFR with clean opinion
1.1.4
Summary:
Milestone Estimated Actual
The Governmental Accounting Standards Board (GASB) Completion Completion
has issued four (4) GASB statements that must be Read/analyze GASB 12/31/2017 12/31/2017
implemented for the FY 2018 reporting period. The Statements
Finance department will review and analyze each Identify reporting, disclosure, 3/31/2018 6/30/2018
statement and identify and implement reporting and RSI requirements
requirements timely and accurately. The GASB Draft changes need for CAFR 8/31/2018 8/31/2018
Statements include: Submit proposed changes to 9/30/2018 9/30/2018
external auditor for review
GASB 75: Accounting & Financial Reporting OPEB
GASB 81: Irrevocable Split‐Interest Agreements
GASB 85: Omnibus 2017
GASB 86: Certain Debt Extinguishment Issues

Update:
The project is complete, pending auditor
comments/feedback.

Financial/Economic Development

Goal 1: Continue Responsible Fiduciary Emphasis for the Organization and Council
Objective 1: Comply with all Financial Regulations and Policies
Project Performance Measure(s) City Service Team (Department)
Core MWBE Subcontractor MWBE Participation: Good‐faith effort on Finance (Purchasing)
FED Payment Tracking applicable City procurements related to
1.1.5 service contracts
Summary:
Milestone Estimated Actual
The project purpose is to show additional MWBE Completion Completion
participation on the city’s contract. The city is currently Include language in 12/312016 2/28/2017
able to report direct spend with MWBE prime but cannot bid/proposal documents
track or show MWBE subcontracting activity (indirect requesting MWBE
spend). The information must be obtained from the subcontracting plan
prime contractor/consultant. Once the city is able to Establish implementation 4/30/2019
track this information, the goal is to increase MWBE date for prime to submit
participation toward the City’s MWBE goal. MWBE subcontracting
payment report
Update: Develop internal tracking 4/30/2019
To date, there is one vendor that has identified MWBE procedure and incorporate
subcontracting opportunities on a service contract. We with Quarterly Reports to
are working with the company for them to provide Council and/or CMO, etc.
monthly payment report to show MWBE subcontractor
payment activity.

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