Page 374 - FortWorthFY22AdoptedBudget
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I.  Authority

                        The Fort Worth City Council is responsible for legislation, policy formulation, and overall
                        direction setting of the government.  This includes the approval of financial policies which
                        establish and direct the operations of the City of Fort Worth.  The City Manager and the
                        Assistant City Managers are responsible for carrying out the policy directives of the City
                        Council and managing the day-to-day operations of the executive departments, including
                        the Department of Financial Management Services.  This policy shall be administered on
                        behalf  of  the  City  Manager  and  the  Assistant  City  Managers  by  the  Chief  Financial
                        Officer / Director of Finance.

                   II.   Purpose:

                        This  policy  is  intended  to  establish  guidelines  for  the  management  of  certain  City
                        expenditures/expenses in order to ensure fiscal stability and the effective and efficient
                        delivery  of  services.    Through  the  identification  of  necessary  services  and  the
                        establishment of appropriate service levels, Departments are responsible for the  careful
                        administration of  the expenditure/expense of available resources.

                   III.  Scope:

                        This  policy shall apply  to  all funds under the budgetary and fiscal  control  of the City
                        Manager and the Mayor and City Council.

                   IV.  Glossary

                        See definitions related to this policy provided in the appendix.

                   V.   Policy:

                        A.    Current Funding Basis

                              The City shall operate on a current funding basis. Expenditures/expenses shall be
                              budgeted and  controlled so  as  not  to  exceed current  revenues plus  the  planned
                              use  of  fund  balance/net position  accumulated  through prior  year savings. (The
                              Fund Balance/Net Position Policy Statements shall guide the use of reserves.)

                        B.    Avoidance of Operating Deficits

                              The City shall take immediate corrective actions if at any time during the fiscal year
                              expenditure/expense and revenue re-estimates are such that an operating deficit




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