Page 183 - Hurst Adopted FY22 Budget
P. 183

APPROVED FISCAL YEAR 2022 BUDGET

             Mission Statement






                   he City of Hurst implements plans that provide funds to maximize the


             T quality of services while balancing revenue sources with cost of main-

             tenance, operations, and debt.






              Prior Year Results                                      Future Initiatives


          h   Fiscal Services’ staff members participated in various   ’   Update the city’s financial policies as needed.
              employee and organizational leadership development
              activities.                                          ’   Continue to evaluate debt refunding opportu-
          h   Staff earned additional continuing professional educa-  nities and additional debt needs to maintain
              tion (CPE) hours to maintain their certifications.      quality infrastructure throughout the city.
          h   GFOA’s Distinguished Budget Presentation Award       ’   Continue to monitor national, state and local
              (33rd consecutive year).
          h   GFOA’s Certificate of Achievement for Excellence in     financial conditions and report results to City
              Financial Reporting (47th year).                        Management and City Council.
          h   Maintained credit rating with both Moody’s (Aa2) and   ’   Monitor and implement Government Account-
              S&P (AA).                                               ing Standards Board (GASB) updates.
          h   Received an unqualified (positive) audit opinion.
          h   Fully funded Actuarially Determined Contribution     ’   Fiscal Services staff will strive to provide great
              (ADC) for retiree health care.                          customer service and pursue training opportu-
          h   Updated multi-year plans estimating future funding      nities to maintain/update our skill sets.
              and needs.
          h   Chase Bank procurement program put $37,554 in        ’   Continue participating in GFOA’s award pro-
              rebates back into city coffers.                         grams.
          h   City’s tax collection contract with Tarrant County saves   ’   Seek additional staff certifications.
              the city at least $50,000 per year.                  ’   Continue to provide up-to-date municipal debt
          h   Engaged a consultant to perform an annual data
              analysis of Accounts Payable and Human Resources        information on the city’s website.
              activity.                                            ’   Consider process improvement, cost saving and
          h   Refunded outstanding debt to take advantage of low      revenue enhancement projects identified by
              interest rates, resulting in net present value savings of   staff, including upgrading our financial system
              $1.4 million.
          h   Assisted the City Manager and Executive team man-       to a newer version.
              age the ongoing financial impacts of the Covid-19
              pandemic, including applying for anticipated federal
              stimulus funds


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