Page 71 - N. Richland Hills General Budget

INTRODUCTION

LONG RANGE PLANS

The city’s annual budget process involves incorporating the goals and strategies identified by the City Council to
provide for the community’s highest priority needs. The City’s three-year Capital Improvement Program and ten-
year long-range plans are used as a guide to identify near and long term needs and to assist in planning for
these future needs. Several significant operations in the City are forecasted in the long-range plans including:
the Parks & Recreation Development Fund, Aquatics Fund, Fleet Services Fund, and Facilities Fund. In addition
to long range plans for operations the City maintains long range plans for major infrastructure including: Streets,
Drainage, Utilities, and major equipment.

FINANCIAL POLICIES

Many financial policy guidelines are followed for the fiscal management of the City which enable the City to
maintain financial stability. These policies are long-standing and provide guidelines for current decision-making
processes and future plans. Budgeting is an essential element of financial planning.

 Annual Budget:

 The City’s Charter establishes the following requirements (Art XII. Finance / Section 1 - 5):

 Requirement to establish an annual budget and sets the City’s fiscal year as October 1 through
st
September 30 th

 Requires the City Manager to submit a proposed budget to City Council at least 45 days prior to the
beginning of the fiscal year. Requires the City Council to hold a public hearing on the proposed budget
and requires the budget to be filed with the City Secretary

 Establishes the process for budget amendments

 Guiding budget principles and policies include:

 The Operating Budget will be balanced with current revenues and a portion of beginning resources,
greater than or equal to current expenditures or expenses.

 Annual estimates of revenues in all funds will be based on historical trends and reasonable
expectations and assumptions regarding growth, the state of the economy, and other relevant factors.
A conservative approach will be observed in estimating revenues.

 Expenditures in all funds will be managed to ensure obligations of each fund can be met when due
and expenditures will be made in accordance with the Adopted Budget unless otherwise approved
by the City Manager.

 The level of budgetary control is at the department level in all funds. Department’s are responsible
for remaining within their adopted budget level or revised budget level (as approved by City Council
action) unless authorized by a budget transfer approved by the City Manager's Office.

 The General Fund should be reimbursed for administrative costs incurred in support of operations of
the other operating funds (as appropriate), including costs for management, finance, human
resources, and other administrative functions.

71