Page 111 - City of Colleyville FY22 Adopted Budget

5-Year + Outlook

Finance Administration
Finance will continue to strive for high standards of fiscal responsibility through adhering to
the reporting standards set forth by the Governmental Accounting Standards Board, as well
as applying best practices laid out by the Government Finance Officers Association (GFOA).
To that end, staff will continue to apply for GFOA awards in financial reporting.
Holding transparency and communication as crucial values, the finance staff will work to
ensure all monthly and quarterly reports present the City’s position in a clear, concise format.
Additionally, staff will work with OpenGov, the City’s vendor for online transparency, to create
informative, value-added reports for Council, staff, and all citizens of Colleyville on an ongoing
basis. These reports will be available to access on-line and in real-time.
Finally, the Finance Department this marks the second year the Finance office has managed
the City’s budget process. Staff strives to maintain the City’s high standards for this process,
taking care to lay out long-range forecasts and act as advisor and facilitator between
departments, City Management, and Council. Finance staff will also make sure Colleyville’s
tax rate setting process adheres to the State’s regulates as well as Colleyville’s history of
public transparency. Additionally, the Finance office has contracted with ClearGov to
transition this budget document from a paper process to being wholly online and interactive.
Staff expects this to be up and running in early 2022.

Departmental Specific Objectives

Description Timeline Strategic Goal Link
Deploy Executime Time Summer of 2022 2.3 Effectively leverage
Entry software information technology

1.3 Assure convenient
access to public information

1.4 Communicate thoroughly
and strategically
Deploy ClearGov budget
summary software Spring of 2022 2.3 Effectively leverage
information technology

2.4 Demonstrate
stewardship of public
resources
Deploy new PCard 2.1 Provide responsive,
agreement Winter/Spring of 2022 efficient city services
1.1 Actively involve and
engage stakeholders
Work with Citizen’s
Capital Advisory 2.4. Demonstrate
Committee to decide on a stewardship of public
general capital Spring of 2022 resources
improvement funding
method 3.4 Thoroughly plan for
future capital investments
and associated costs 109