Page 149 - Haltom City Budget FY21

CITY OF HALTOM CITY aNNUAL BUDGET, FY2021 SUPPLEMENTAL INFORMATION

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.

Expenditure Objectives

Interim Reporting. Monthly reports shall be prepared showing actual expenditures compared to
original budget. Each monthly report will contain an executive summary disclosing significant
trends affecting the financial performance of the City. These reports will be presented to the City
Council in open session.

Budget Amendments. Modifications to the approved annual budget may be made within the following
specific guidelines. Modifications within the operating categories (supplies, maintenance, services,
and sundry) may be made with Finance Director approval. Modifications within the personnel and
capital categories may be made with the approval of the City Manager. Modifications to reserve
categories, inter-fund totals, or overall budget increases shall be done only with City Council
consent, after a public hearing held in accordance with the City Charter and applicable State law.

Performance Measures. Performance measures and productivity indicators shall be used as
expenditure guidelines. The measures will be illustrative of departmental and organizational goals.
These measures will be reviewed annually for efficiency and effectiveness. This information shall
be included in the annual budgeting process and in the approved budget document. Further,
performance and productivity data will be reported to the City Council periodically throughout the
fiscal year.

Purchasing. Purchases over $50,000 shall conform to a formal bidding process as defined by the
laws of the State of Texas and ordinances of the City of Haltom City. Recommendation of bids
shall be made to the City Council for approval. Historically underutilized businesses (HUB’s) will
be sought for proposals on any purchases of $3,000 or greater.

Procedures shall be taken so as to maximize any discounts offered by creditors. Current liabilities
shall be paid within 30 days of receiving the invoice in accordance with applicable Texas law.
Accounts Receivable procedures shall target collection within 30 days from date of service.

Budget Concepts

Balanced Budget. The City shall prepare a budget for each fund and each program within the fund.
The budget should be balanced with current revenues equal to or greater than current expenditures.
In order to accomplish this aim emphasis will be placed first on encouraging increased productivity
and recovering costs through fees. Reserves above the required levels are available for one-time
expenditures. Non-essential services that cannot generate revenues to support some or all of
operations may be reduced or eliminated. Tax increases will be considered only in the event that
the above strategies fail to address essential service levels that cannot be reduced.

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