Page 184 - Hurst Adopted FY22 Budget
P. 184

APPROVED FISCAL YEAR 2022 BUDGET

            CITY COUNCIL STRATEGIC PRIORITIES











          Redevelopment       Public Safety      Leadership       Innovate    Economic Vitality Infrastructure

                                    Goals and Objectives




         Goals


               Continue to refine our multi-year financial planning process to address future service requirements and infrastructure
               needs based on anticipated revenue streams.

               Monitor new and emerging government regulations impacting the City’s fiscal condition, including unfunded mandates.

               Focus on maintaining and improving city services, including identifying alternative funding sources.

               Be proactive in risk detection and risk reduction.

               Continue to monitor economic conditions and their impact to the City’s fiscal condition.

               Provide accurate and timely financial records and reports.

               Invest all idle funds in compliance with the City’s Investment Policy in order to achieve the goals of safety, public trust,
               liquidity, diversification, and yield.

               Provide courteous, friendly, professional service to all external and internal customers.


         objectives


               For each year in multi-year financial plans, calculate a tax rate needed to balance the budget based on a conservative
               approach with no alternative funding sources.

               Include balanced and conservative projections of sales tax revenue and bonded indebtedness within multi-year financial
               plans.

               Minimize the impact to the property tax rate when issuing or refunding debt.

               Maintain level of City services and enhance services if justified and approved by Council.

               Provide for infrastructure maintenance and facility improvements in the operating budget.

               Monitor economic conditions, including interest rates, to identify areas of financial risk that may impact the budget.

               Conduct timely reviews of financial data to proactively search for unusual transactions or breakdowns of internal controls.

               Monitor and report the budgetary status of all revenues and expenditures throughout the fiscal year and publish monthly,
               quarterly, and annual financial reports.

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