Page 136 - Haltom City FY20 Approved Budget

City of Haltom City Annual Budget, FY 2020
Supplemental Information

a thorough analysis and adjustment (as required) at the end of each quarter. Budgets for
all funds are adopted on basis consistent with generally accepted accounting principles
(GAAP). Annual appropriated budgets are adopted for most funds. All annual
appropriations remain open for 60 days subsequent to year-end.

The City will strive to maintain accounting policies and practices in the preparation of its
annual financial report. The report will be presented to the Government Finance Officers
Association for review of qualifications that meet those necessary to obtain the Certificate
of Achievement for Excellence in Financial Reporting. In addition, the City will submit its
annual budget to GFOA for review to receive the Distinguished Budget Presentation
Award.

Staffing. Staffing levels shall be adequate for the departments of the City to function
effectively. Overtime shall be used only to address temporary or seasonal demands that
require excessive hours. Possible ways to increase efficiency shall be explored before
adding staff. However, the staffing levels shall not be inadequate or marginal such that
the City’s internal controls are jeopardized.

Revenue Objectives

Revenue System. The City shall strive to operate a revenue system that is simple and
reliable so assurances can be provided that the revenue base will materialize according
to budget planning. Consistent monitoring and collection policies will be maintained to
ensure the integrity of the revenue system. Revenue collections will be consolidated
under the finance department.

Revenue Analysis. Monthly reports shall be prepared to compare actual revenues to
budget and to determine the variances and associated corrective action necessary.
These reports will be presented to the City Council in open session.

Fee Schedule. The City will maintain a centralized list of fees adopted by ordinance and
updated annually by resolution. Each year the City will review its fee structure to ensure
that revenue collections are adequate to meet corresponding expenditures (cost of
service concept). Such reviews will be conducted in concert with the budget preparation
process.

Administrative/Internal Services. The Enterprise Funds, being the Water & Sewer Fund
and the Drainage Utility Fund, engage in transactions with other funds of the City. All
services rendered by this fund for other funds of the governmental jurisdiction should be
billed at pre-determined rates, and all services received by this fund from other funds
should be paid for on the same basis that other users are charged.

Franchise Fees. The Enterprise Funds will pay a franchise fee based on the same
rationale as used with the electric, gas, and telephone companies. A franchise fee is paid
to compensate the City for public property, street and alley usage.

Page 127