Page 418 - FortWorthFY22AdoptedBudget

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 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 interfund loans
between City funds. Interfund loans are amounts provided between funds and
component units of the City of Fort Worth with a requirement for re-payment.

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. Review and Approval

In accordance with the City of Fort Worth Charter, any movement of funds
from one fund to another requires the approval of City Council. Additionally,
all Interfund loan proposals must be reviewed and approved by the Chief
Financial Officer/Director of Finance and the City Manager or the designee
thereof (who shall not be the Chief Financial Officer/Director of Finance).

B. Funding Source for Loans

The funding source of all interfund loans must be idle cash on deposit in a
fund. During the term of the loan, the outstanding balance at any time must not
be needed to finance normal operations. Adequate documentation, i.e. cash
flow analysis, is required to support the requirement that loaned funds are idle.

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