Page 69 - Burleson FY22 City Budget

f. Original Issue discount bonds/Capital Appreciation Bonds
g. Variable rate bonds
h. Call provisions (25 years by Charter)

3) Bond Issuance Costs. The City will be involved in the selection of all financial advisors, underwriters, paying
agents, and bond counsel. The City shall evaluate the merits of rotating professional advisors and consultants and
the kinds of services and fee structures available from independent financial advisors, investment banking firms,
and commercial banks. The City will carefully itemize and scrutinize all costs associated with the issuance of
bonds.

4) Financial Advisor. The City will discourage perceived conflicts of interest which arise when a financial advisor is
allowed to bid on debt obligations of the City. The financial advisor will be expected to provide planning and
analytical services which extend beyond the issuance of debt. The payment to the Financial Advisor should be
related to the costs of providing their service to the City.

.
a. MISCELLANEOUS

i. ANNUAL REVIEW. The Disclosure Officer shall conduct an evaluation of the policies set forth in this
Policy no less often than annually, and promptly after completing the evaluation, the Disclosure
Officer shall prepare an annual report of the Issuer's compliance.

ii. AMENDMENTS TO POLICY. This Policy may be amended from time to time to adapt to changed
circumstances that arise from a change in legal requirements or industry disclosure practices or
procedures, a change in Rule 15c2-12, or a change in law.

XI. INTERNAL CONTROLS

A. WRITTEN PROCEDURES. Written procedures will be established and maintained by the Director of
Finance for all functions and financial cycles including cash handling and accounting throughout the City.
These procedures will embrace the general concepts of fiscal responsibility set forth in this policy statement.
B. DEPARTMENT DIRECTORS AND MANAGERS RESPONSIBILITY. City administrators and manager are
charged with the responsibility for establishing a network of processes with the objective of controlling the
operations of the City in a manner which provides reasonable assurance that:

1) Data and information published either internally or externally is accurate, reliable, complete, and
timely.
2) The actions of administrators and employees are in compliance with the City’s charter, plans,
policies and procedures, and all relevant laws and regulations.
3) The City’s resources including its people, systems, data/information, assets, and citizens are
adequately protected.
4) Resources are acquired economically and employed effectively.
5) The City’s internal controls promote the achievement of plans, programs, goals, and objectives.

Each Department Manager is responsible to ensure that good internal controls are followed throughout his
or her Department, that all Finance Department directives or internal controls are implemented, and that all
independent auditor internal control recommendations are addressed.

XII. STAFFING AND TRAINING

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