Page 178 - Hurst FY20 Approved Budget
P. 178
CITY OF HURST
GENERAL FUND FISCAL SERVICES 0323 FINANCE
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.
3-10 Years Intermediate Term
• Include balanced and conservative projections of sales tax revenue and bonded
indebtedness within multi-year financial plans.
3-10 Years Intermediate Term
• Minimize the impact to the property tax rate when issuing or refunding debt.
0-3 Years Short Term
• Maintain level of City services and enhance services if justified and approved by Council.
0-3 Years Short Term
• Provide for infrastructure maintenance and facility improvements in the operating
budget.
0-3 Years Short Term
• Monitor economic conditions, including interest rates, to identify areas of financial risk
that may impact the budget.
0-3 Years Short Term
• Conduct timely reviews of financial data to proactively search for unusual transactions or
breakdowns of internal controls.
0-3 Years Short Term
• Monitor and report the budgetary status of all revenues and expenditures throughout the
fiscal year and publish monthly, quarterly, and annual financial reports.
0-3 Years Short Term
• 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’s
Investment Policy.
0-3 Years Short Term
• Respond to all vendor and customer requests within one week.
0-3 Years Short Term
• Pay invoices within 30 days of receipt.
0-3 Years Short Term
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