Page 220 - Hurst FY19 Approved Budget

FISCAL SERVICES

110 GENERAL FUND
0323 FINANCE

• Provide accurate and timely financial records and reports.
• Invest all idle funds in compliance with the City’s Investment Policy in order to
achieve the goals of safety, public trust, liquidity, diversification, and yield.
• Provide courteous, friendly, professional service to all external and internal
customers.

Objectives:
• For each year in multi-year financial plans, calculate a tax rate needed to
balance the budget based on a conservative approach with no alternative
funding sources. †
• Include balanced and conservative projections of sales tax revenue and
bonded indebtedness within multi-year financial plans. †
• Minimize the impact to the property tax rate when issuing or refunding debt. *
• Maintain level of City services and enhance services if justified and Approved
by Council. *
• Provide for infrastructure maintenance and facility improvements in the
operating budget. *
• Monitor economic conditions, including interest rates, to identify areas of
financial risk that may impact the budget. *
• Conduct timely reviews of financial data to proactively search for unusual
transactions or breakdowns of internal controls. *
• Monitor and report the budgetary status of all revenues and expenditures
throughout the fiscal year and publish monthly, quarterly, and annual financial
reports. *
• Maintain a return on investment rate equal to or greater than the 3-month U.S.
Treasury Bill rate and maintain a weighted average maturity in compliance
with the City’sInvestment Policy. *
• Respond to all vendor and customer requests within one week. *
• Pay invoices within 30 days of receipt. *

* - Short Term (0-3 years)
† - Intermediate Term (3-10 years)
‡ - Long Term (10+ years)
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