Page 63 - Burleson FY22 City Budget

Manager assigns Departments to each Director as areas of their responsibilities, and documents it in the City’s
Organization Chart.

D. PURCHASING. All purchases should be in accordance with the City's purchasing policies as defined in the Purchasing
Manual. In accordance with Charter provisions, purchases and contracts as per the City’s Procurement Policy, will be
reviewed and recommended by staff and presented to Council for approval.

E. PROMPT PAYMENT. All invoices approved for payment by the proper City authorities shall be paid by the Finance
Department within thirty (30) calendar days of receipt in accordance of Government Code Title 10. General Government,
Subtitle F. State and Local Contracts and Fund Management, Chapter 2251.021 and other related state and local
government laws and regulations.
F. EQUIPMENT FINANCING. Equipment is accounted for at the original acquisition cost, which includes purchase price
plus any costs incurred to place the equipment in service. Equipment may be leased or financed when the unit purchase
price is $5,000 or more and the useful life is at least five years. Departments shall contact the Finance Department for
transfer or disposal instructions.

G. RISK MANAGEMENT. The City will aggressively pursue every opportunity to provide for the Public's and City employees'
safety and to manage its risks. The goal shall be to minimize the risk of loss of resources through liability claims with an
emphasis on safety programs. All reasonable options will be investigated to finance risks. Such options may include risk
transfer, insurance, and risk retention.

H. AUTHORIZATION OF PAYMENT. Two signatures are required to conduct business of behalf City of Burleson, Texas.
BOTH the City Manager and the Director of Finance, or their designee(s), are hereby authorized to execute the required
Agreement with the Bank Depository. Designee(s) who are authorized to transact business on behalf of the City Manager
are a City of Burleson’s Deputy City Manager or the City Secretary. The designee who is authorized to transact business
on behalf of the Director of Finance is the City of Burleson’s Assistant Director of Finance. Payments may use
reproducible authorized signature(s) or ACH (automated clearinghouse)

I. AUTHORIZATION OF WIRE TRANSFERS BY THE CITY.

1. In general, attachments A through D to this Policy are as follows:

a. Attachment “A” List of authorized individuals who may approve wire transfers.
b. Attachment “B” Designation of Custodial/Safekeeping Agent.
c. Attachment “C” List of authorized Investment Pools.
d. Attachment “D” List of authorized Paying Agents.

Changes to attachments for revisions, additions, or deletions to any of the designations on
Attachment “A”, “B”, “C” and “D” shall require the approval of two individuals listed on Group B as
listed on Attachment “A”. Copies of additions, deletions, and changes will be provided to the Finance
Committee at their next regular scheduled meeting.

2. SECURITY PURCHASES.

a. Two employees designated on Group A of Attachment “A” must approve wire transfers
associated with security purchases.
b. All security purchases shall be executed “delivery vs. payment.”
c. Any change in the City’s custodial relationship must be approved by two individuals
designated in Group B of Attachment “A”.

3. INVESTMENT POOLS

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