Page 122 - Watauga FY21 Budget

GENERAL FUND

DEPARTMENT: FINANCE
DIVISION / ACTIVITY: FINANCE / ACCOUNTING /PURCHASING / ADMINISTRATION -
FUND 01-040
LOCATION: HOURS OF OPERATION:
7105 Whitley Road Monday – Friday 8:00 A.M. – 5:00 P.M.
Watauga, Texas 76148
Phone Number: 817-514-5800
MISSION / PROGRAMS / SERVICES:

x Finance and Administration is responsible for providing accurate and timely financial data to
management and council to facilitate the financial decision making process
x This division is accountable for establishing, monitoring and updating the City’s fiscal policies to
ensure they are both responsive in the current environment and fiscally responsible
x Responsible for planning, collecting, recording, summarizing and reporting the results of all
financial transactions of the City in a timely manner and in accordance with generally accepted
accounting principles, ensuring compliance with applicable state and federal statutes, bond
covenants, grant contracts, and management policies
x The purchasing area ensures that all purchases are in accordance with state laws. Responsible
for obtaining the best value consistent with delivery terms. We strive to foster an understanding
and appreciation of sound purchasing policy and procedures throughout all departments of the
City

FY2019-2020 HIGHLIGHTS / ACHIEVEMENTS:

x Received the Distinguished Budget Award and Certificate of Achievement for Excellence in
Financial Reporting from the Government Finance Officers Association (GFOA)
x Met all continuing education requirements for staff
x Received clean audit for Fiscal Year 2019 and received no management comments from
external auditors
x Implemented EFT and electronic payment options for vendors
x Restructured Finance Department and implemented efficiencies with decreased staff
th
x Created Property Tax Page website in accordance with 86 Legislature Changes
FY2020-2021 GOALS/ OBJECTIVES:

x Apply for Texas Transparency Star Program to increase governmental transparency
x Continue website improvements to increase public ease of acquiring needed information
x Produce Popular Annual Financial Report and post on website for increased communication to
citizens
x Implement additional efficiency tools such as personnel budgeting and accounts receivable
modules
x Increase cross training for staff to ensure coverage of essential duties

MAJOR BUDGETARY ISSUES AND OPERATIONAL TRENDS:
Finance will play a major role in monitoring the financial impact from COVID-19 on the City’s revenues
and will dedicate staff time to applying and reporting on grant funding opportunities.
th
The 86 Texas Legislature actions have had a major impact on the City’s finances, thus creating the
need for implementing more cost recovery measures.

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