Page 178 - City of Watauga FY22 Adopted Budget

GENERAL FUND

DEPARTMENT: FINANCE
DIVISION / ACTIVITY: FINANCE / ACCOUNTING /PURCHASING / ADMINISTRATION -
FUND 01-040
LOCATION: HOURS OF OPERATION:
7105 Whitley Road Monday – Friday 8:00 A.M. – 5:00 P.M.
Watauga, Texas 76148
Phone Number: 817-514-5800
MISSION / PROGRAMS / SERVICES:

• Finance and Administration is responsible for providing accurate and timely financial data to
management and council to facilitate the financial decision making process
• This division is accountable for establishing, monitoring and updating the City’s fiscal policies to
ensure they are both responsive in the current environment and fiscally responsible
• Responsible for planning, collecting, recording, summarizing and reporting the results of all
financial transactions of the City in a timely manner and in accordance with generally accepted
accounting principles, ensuring compliance with applicable state and federal statutes, bond
covenants, grant contracts, and management policies
• The purchasing area ensures that all purchases are in accordance with state laws. Responsible
for obtaining the best value consistent with delivery terms. We strive to foster an understanding
and appreciation of sound purchasing policy and procedures throughout all departments of the
City

FY2020-2021 HIGHLIGHTS / ACHIEVEMENTS:

• Received the Distinguished Budget Award
• Received the Certificate of Achievement for Excellence in Financial Reporting
• Met all continuing education requirements
• Received clean audit for Fiscal Year 2020 and received no management comments from
external auditors
• Implemented accounts receivable module
• Continued cross training for staff
• Continued with enhancement of electronic funds payments with vendors

FY2021-2022 GOALS/ OBJECTIVES:

• Apply for Texas Transparency Star Program to increase governmental transparency
• Continue with website improvements to increase public ease of obtaining information
• Continue implementation of efficiency tools such as electronic bidding and contract
management
• Continue with staff cross training to ensure coverage of essential duties

MAJOR BUDGETARY ISSUES AND OPERATIONAL TRENDS:

Finance will play a major role in monitoring the financial impact from Covid-19 and the CLFRF funds

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