Page 157 - Haltom City FY 22 Budget

CITY OF HALTOM CITY ANNUAL BUDGET, FY2022 Supplemental Information

necessary materials and presentation to the rating agencies. Inter-period reporting of material
events to rating agencies and other oversight agencies is required as events occur.

Variable Rate / Floating Rate Debt. Debt instruments structured with variable rate or floating rate
features (including derivatives) are to be utilized only after careful review by the City’s financial
advisor and bond counsel and subject to continuous monitoring and reporting.

Cash and Investment Management Concepts
Objectives. The City shall manage and invest its cash with three objectives, listed in order of
priority: safety, liquidity, and yield. The safety of the principal invested always remains the primary
objective. All investments shall be designed and managed in a manner responsive to the public
trust and consistent with state and local law.

Management. The City shall maintain a comprehensive cash management program, which includes
collection of accounts receivable, vendor payment in accordance with invoice terms, and prudent
investment of available cash. Cash management is defined as the process of managing monies
in order to ensure maximum cash availability and maximum yield on short-term investment of idle
cash.

Review. Periodic review of cash flow position shall be performed to determine performance of
cash management and investment policies. Detail policy structures (City Investment Policy and
Depository Agreement) shall be followed with respect to Cash/Treasury management.

Interest earned from investment of available funds, whether pooled or not, shall be distributed to
the funds from which monies were provided to be invested.

In accordance with the Texas Public Funds Investment Act the written Investment Policy is
submitted annually to the City Council for review and formal approval.

Performance Measurement

Every year, the City Council evaluates the strategic priorities established the previous year. Pri-
orities are added and dropped as appropriate to develop a new set of strategic priorities for the
coming budget year.
From the strategic priorities, each department develops goals that outline measures to accom-
plish the strategic priorities. The goals are supported by performance measures. Performance
measurements should objectively monitor and project the degree of success in accomplishing the
goals as outlined.