Page 433 - Microsoft Word - FY 2020 Adopted Budget Document

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 Bad Debt Ratio Maintain Bad Debt Ratio at or below 0.2% Economic Development and Capital
FED Investment (Water)
1.1.1
Summary:

The City of Arlington Water Utilities will maintain its Bad Debt Ratio
bad debt ratio at or below 0.2%. Arlington Water 0.20%
Utilities will seek ways to increase recovery of bad
debt by studying opportunities to reduce the amount 0.15%
in which a utility bill is outstanding after account
termination. 0.10%

Update: 0.05%
The annual bad debt write‐off process is performed
each October. In October 2018, the bad debt write‐
0.00%
off was .1768%, which continues to decrease. There
FY 2019 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
was a decrease of .0298% from last year. Water
Utilities continues to analyze opportunities to reduce Total
the amount of unpaid balances once an is account
closed.

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 Review of Citywide Financial Rating agencies ratings on City debt Finance
FED Policies
1.1.2
Summary:

On a regular basis, The City reviews its Financial Policies Milestone Estimated Actual
and Principles to adjust for market changes, changes in Completion Completion
best practices, and overall economic conditions to Review all Policies 02/28/2018 Mar. 2018
maintain fiscal prudence. The last update to the Develop draft changes 03/31/2018 Mar. 2018
principles was in 2008. The economy has substantially Review by CMO 11/15/2019 In Progress
changed in many ways and this initiative will take a Make presentation to 12/31/2019
comprehensive look at updating or refining the policies Finance & Audit Committee
and principles to maintain our conservative financial City Council Adoption 1/31/2020
approach in the current economy.

Update:
The project is on target.

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