Page 185 - Hurst Adopted FY22 Budget

APPROVED FISCAL YEAR 2022 BUDGET
performance measures

Actual Estimate Projected

2020 2021 2022
Input
Employees with primary budget responsibilities 3 3 3
Employees coordinating treasury, accounting, AP/AR,
and debt management activity 3 3 3
Output

Journal entries processed 1,639 1,700 1,700
Finance committee meetings held 12 12 12
Bank activity reviewed daily Y Y Y
AP checks issued 4,044 3,500 4,000
Purchasing card transactions 9,600 10,000 10,600
Investments within the city’s portfolio 23 28 28
Effectiveness
GFOA distinguished budget presentation award Y Y Y
GFOA certificate of achievement award Y Y Y
Credit ratings (Moody’s / S&P)
(benchmark: A or higher) Aa2 / AA Aa2 / AA Aa2 / AA
General debt service as percentage of general fund
expenditures 11.6% 11.3% 9.6%
Tax supported debt as a percentage of taxable
assessed valuation 1.7% 1.5% 1.4%
General fund exp. as percentage of taxable assessed
valuation 1% 1% 1.1%
Actual general fund revenue over/(under) estimated
budget -2.6% 3% 3%
Debt service rate to total tax rate 19.9% 19.4% 17.8%
AP checks paid within 30 days 92% 95% 95%
Rebate provided by purchasing card activity $47,903 $37,554 $45,000
Efficiencies
Monthly closings completed within seven business
days of month end 83% 67% 83%
Monthly sales tax reports prepared within one day of
state’s release of data 100% 100% 100%
Vendor requests resolved within one week 95% 95% 95%
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