Page 263 - Saginaw FY22 Adopted Annual Budget

CITY OF SAGINAW, TEXAS

FINANCIAL MANAGEMENT POLICIES

F. Reporting
Monthly financial reports will be prepared showing actual revenues and
expenditures/ expenses compared to budgeted amounts. These reports will be
submitted to the City Council
G. Budget Management and Amendment
1. The level of budgetary control is the department level in all funds. The
City Manager or designee may approve budget transfers between line items within
a department.
2. Budget adjustments between departments or increasing the total
appropriation of a fund require City Council approval.

H. Operating Deficits
If at any time during the fiscal year it is estimated that the current year resources
will not be sufficient to fund current year expenditures/ expenses, the City
Manager shall notify the City Council and present a plan to correct the anticipated
deficit. Plans to correct an operating deficit shall include consideration of the
following strategies in order of precedence:

1. Reduce transfers for cash funded capital projects/ delay cash funded
capital projects.
2. Manage the vacant position hiring process
3. Reduce travel and training expenses for only required certifications
4. Defer capital outlay purchases
5. Expenditure reductions
6. Hiring freezes
7. Use of undesignated fund balance in excess of required reserves

8. Salary increase freezes
9. Increase user fees
10. Employee lay-offs

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