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Appendices                                          Return  to  Table  of  Contents
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            FINANCIAL POLICIES (CONTINUED)
            3.  Professional and consulting contracts anticipated to be greater than $50,000 shall be governed by the Purchasing Manual,
               through the Finance Department and must have City Council approval before executed.

                 In Compliance: Yes   Comments: Staff is working to amend the Purchasing Policy to include Professional Services with
                                   the anticipated goal to begin in FY22.

            4.  The City Manager or designee has the authority to approve a Request for Proposal process for estimated expenditures
               below $1,000,000 for the length of the initial term of the contract.

                 In Compliance: Yes   Comments: Staff is working to amend the Purchasing Policy to include this provision with the
                                   anticipated start date of FY22.


            Investments

            1.  The governing authority for the City of Arlington’s Investment Policy shall be Chapter 2256 of the Texas Government Code,
               cited as the Public Funds Investment Act and Chapter 2257 of the Texas Government Code, cited as the Collateral for
               Public Funds.

                 In Compliance: Yes   Comments: Investments comply with Ch. 2256.

            2.  Investments shall be made in conformance with the City's Investment Policy, with the primary objectives of:
                 Safety – preservation of capital in the investment portfolio;
                 Liquidity – portfolio remain sufficiently liquid to meet operating requirements;
                 Yield – goal of rate of return of exceeding TexPool fund

                 In Compliance: Yes   Comments: All investments were secure, incurring no losses while meeting all City cashflow
                                   needs.

            3.  The Investment Policy shall be approved by City Council each fiscal year.

                 In Compliance: Yes   Comments: Policy was approved Sept. 15, 2020 for FY21


            Grants

            1.  The City shall seek a fair share of available State and Federal financial support unless conditions attached to that assistance
               are contrary to the City’s best interests.  Prior to applying for and accepting intergovernmental aid, the City will examine the
               matching requirements so that the source and availability of these funds may be determined before grant application is
               made and that the application complies with City Administrative Policy #4.

                 In Compliance: Yes   Comments: New criteria

            2.  All grants and other federal and state funds shall be managed to comply with the laws, regulations, and guidance of the
               grantor, and all gifts and donations shall be managed and expended according to the wishes and instructions of the donor.

                 In Compliance: Yes  Comments:  FY20 Single Audit complete 3/3/2021.












            FY 2022 Adopted Budget and Business Plan                                        343                                                                City of Arlington, Texas
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