Page 402 - Fort Worth City Budget 2019

Capital Expenditures and

Improvements Policy

I. Authority

The Fort Worth City Council is responsible for legislation, policy formulation, and
overall direction setting of the government. This includes the approval of financial
policies which establish and direct the operations of the City of Fort Worth. The City
Manager and the Assistant City Managers are responsible for carrying out the policy
directives of the City Council and managing the day-to-day operations of the executive
departments, including the Department of Financial Management Services. This policy
shall be administered on behalf of the City Manager and the Assistant City Managers
by the Chief Financial Officer / Director of Finance.

II. Purpose:

This policy is intended to establish guidelines for the management of certain City
capital expenditures, to review and monitor the state of the City's capital assets, setting
priorities for the addition, replacement, and renovation of such assets based on
needs, funding alternatives, and availability of resources.

III. Scope:

This policy shall apply to all funds under the budgetary and fiscal control of the City
Manager and the Mayor and City Council.

IV. Glossary

See definitions related to this policy provided in the appendix.

V. Policy:

A. Capital Improvements Planning

The City shall review annually the needs for capital improvements and
equipment, the current status of the City's infrastructure, replacement and
renovation needs, and potential new projects. All projects, ongoing and
proposed, shall be prioritized based on an analysis of current needs and resource
availability. For every capital project, all operation, maintenance, and
replacement costs shall be fully identified.

B. Replacement of Capital Assets on a Regular Schedule

The City shall annually prepare a schedule for the replacement of its non-
infrastructure capital assets. Within the resources available each fiscal year, the
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