Page 43 - Manfield FY21 Budget

PURCHASING POLICY

The City continues to develop a City-wide purchasing plan to simplify, expedite and provide cost savings
to all City departments. The consolidation of purchases, cooperative purchasing and the expanded use of
technology in the bidding process provides cost savings now and in the future.

INVESTMENT POLICY

The investment policy applies to all financial assets of the City of Mansfield. Investments and investment
reporting comply with the Public Funds Investment Act.

OTHER POLICIES

• Growth pays for growth - one-time revenues will be used to pay for one-time expenditures.

• Operational increases in cost may only be funded by a permanent increase in revenue or a
structurally balanced budget.

• Pay as you go funding - including T.M.R.S., OPEBS, capital infrastructure and impact fees.

• Amortization is limited to life expectancy.

• Utility Coverage Factor is equal to 1.30 annually.

• All members of Management and City Council are subject to ethics disclosure (any dealings that
could have a direct or indirect gain.)

Click on the link below to view the FY 21 Budget Presentation to City Council on August 31, 2020:

https://www.mansfieldtexas.gov/DocumentCenter/View/7091/Proposed-Budget-Presentation-FY-2021-PDF

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