Page 33 - NRH FY20 Approved Budget

BUDGET OVERVIEW

COUNCIL GOAL 4:

FINANCIAL STABILITY

Strive to get the best value for taxpayer dollars and
to ensure that the c ity has the financial resources
available to invest in community priorities.

Objectives:

 Continue pay-as-you go where possible

 Maintain a stable and predictable income stream

 Update the long-range financial plan annually

 Maintain cash reserve policies

 Maximize targeted grant funding

 Identify and evaluate funding alternatives and innovative financing tools for achieving our
strategic vision

Accomplishments:

 In October of 2018, North Richland Hills’ good credit ratings (AA2 and AA+) were
reaffirmed. This reaffirmation is a reflection of sound financial management and a strong
economy in North Richland Hills.

 The City received an unmodified (clean) opinion from the auditors regarding the FY 2018
financial statements.

 Both the NRH Centre and the Grand Hall are expected to have record revenue in FY
2019.

 The Fire Department received the Clean Fleet North Texas 2018 grant program to
replace a piece of aging fire apparatus with a new and more efficient vehicle. This
program covers 25% of the cost of the vehicle and will help to reduce the environmental
impacts caused by the outgoing vehicle

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