Page 157 - Hurst Budget FY21

CITY OF HURST

GENERAL FUND FISCAL SERVICES 0323 FINANCE

 Include balanced and conservative projections of sales tax revenue and bonded
indebtedness within multi-year financial plans.
 Minimize the impact to the property tax rate when issuing or refunding debt.
 Maintain level of City services and enhance services if justified and approved by Council.
 Provide for infrastructure maintenance and facility improvements in the operating
budget.
 Monitor economic conditions, including interest rates, to identify areas of financial risk
that may impact the budget.
 Conduct timely reviews of financial data to proactively search for unusual transactions or
breakdowns of internal controls.
 Monitor and report the budgetary status of all revenues and expenditures throughout the
fiscal year and publish monthly, quarterly, and annual financial reports.
 Maintain a return on investment rate equal to or greater than the three-month U.S.
Treasury Bill rate and maintain a weighted average maturity in compliance with the City’s
Investment Policy.
 Respond to all vendor and customer requests within one week.
 Pay invoices within 30 days of receipt.

PERFORMANCE MEASURES

Input: PY Actual CY Estimate Projected
Employees with primary budget
responsibilities 3 3 3
Employees coordinating treasury,
accounting, AP/AR, and debt
management activity 3 3 3

Finance division expenditures $424,305 $415,000 $433,455
Workload/Output:

Journal entries processed 1,695 1,700 1,700
Finance committee meetings held 12 12 12

Bank activity reviewed daily   

AP checks issued 5,423 4,900 5,400

Purchasing card transactions 12,996 11,500 12,250
Investments within the city’s
portfolio 28 29 29

Internal audit reviews 1 1 1

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