Page 378 - Fort Worth City Budget 2019

Capital Projects Fund Reserve Policy

IX. Conditions for Use of Reserves

It is the intent of the City to limit the use of Capital Project Fund Reserves to address
non-routine and one-time expenditures.

X. Excess of Reserves

In the event Reserves exceed the minimum balance requirements, at the end of each
fiscal year, any excess Reserves may be used in the following ways:

1. Appropriated to lower the amount of bonds or increase the pay-as-you-go
contributions needed to fund capital projects in the City’s Capital Improvement
Plan;

2. To pay for non-routine and one-time expenditures such as land and building
purchases, construction and maintenance projects with at least a 10-year life,
feasibility, design, and engineering studies related to such projects, capital
equipment and vehicles with at least a 10-year life, and technology improvements
with at least a 5-year life.

XI. Authority over Reserves

The City Council may authorize the use of Reserves. The Department of Financial
Management Services and the Performance and Budget Department will regularly
report both current and projected Reserve levels to the City Manager and City
Council.

XII. Quality Control and Quality Assurance:

It is the responsibility of the Chief Financial Officer/Director of Finance to ensure the
presence of procedures that provides sufficient guidance to affected City personnel
to fulfill the intent of this policy.

These policies will be reviewed at least annually and updated on an as-needed basis.

XIII. Metrics:
To be developed and managed accordingly.

XIV. Records:
There are no records associated with this policy.

XV. Process Flow Map:
Not applicable.

3 | P a g e

378