Page 119 - FortWorthFY22AdoptedBudget

General Fund

SUMMARY OF SERVICES AND PERFORMANCE MEASURES

FY20 FY21 FY22
Key Measures Actual Estimated Target Desired Level

Accounting

The purpose of the Accounting Division is to safeguard the City's assets by accounting for all capital assets owned by the City, ensure
proper procedures are followed in accordance with each grant agreement and ensure that all City financial transactions have been
accounted for accurately and timely, through accurate monitoring, accounting and reporting and in accordance with Generally Accepted
Accounting Principles (GAAP).

Percent of fund reviews for prior month completed by 67% 83% 85% 100%
the end of the current month.

Financial Reporting
Provide timely and accurate financial statements and reports for internal and external users, detailing the financial position and the
financial health of the City.

GFOA Certificate of Achievement for Excellence in Yes Yes Yes Yes
Financial Reporting received
# of days to produce the ACFR 128 130 130 130
# of material weaknesses or significant deficiencies in 4 0 0 0
Finance controlled operations

Treasury
The Treasury Division is responsible for effectively and efficiently managing the city's cash and investment portfolios, seeking the
highest return possible while complying with Texas Public Funds Investment Act and applicable law. In addition, the Treasury Division is
responsible for administration of the City's large and complex debt portfolio, executing vendor and payroll disbursements, and the billing
and collection of a variety of city-wide revenue sources.
Investment portfolios to provide returns in excess of 0.79% 0.75% 0.40% 1 Yr Treasury Bill +
0.10% of the benchmark 10 bps
% of invoices paid within 30 days from the invoice date 77.00% 79.90% 100% 100%

Vendor Management
Maintain accurate vendor database information to support efficient payment of City obligations as well as to enhance competition and
vendor inclusion in City business opportunities.
Review all bidder and user requests within 5 business N/A 2.5 3 5
days
Complete Assignment of Contract and Name Change N/A 21 50 60
requests within 60 days

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