Page 9 - City of Watauga FY22 Adopted Budget

THE PURPOSE OF THIS BUDGET DOCUMENT

The Document

This is the budget document for the City of Watauga, Texas for the fiscal year beginning
October 1, 2021 and ending September 30, 2022. The Budget for the City of Watauga is
intended to serve four purposes:

This document should serve as a policy document, a financial plan, and an operations
guide to our City, as well as a communication device to our readers. We designed this
document to be a reference for a wide variety of users. As approved by the City Council for
the fiscal year, City Management may use this document as a guide for operations. The
City Council may use this document as a communication medium to staff and citizens to
describe objectives, goals, and mission of the City. City staff may use this document to
inform City Council and citizens of accomplishments and services. Current and prospective
citizens and businesses may use this document to learn about the City and its plans for the
future.

1. The Budget as a Policy Document

As a policy document, the budget indicates what services the City will provide during
the twelve-month period beginning October 1, 2021. The Budget Message
summarizes the challenges facing the City and the strategies incorporated in the
budget to manage and control the financial impacts created by the challenges.

2. The Budget as an Operations Guide

As an operations guide, the budget indicates how services will be delivered to the
community. The Personnel Positions Schedule outlines the number of authorized full-
time and part-time employees. Specific budgetary information related to each
department is provided for each fund, as appropriate.

3. The Budget as a Financial Plan

As a financial plan, the budget outlines how much City services will cost and how they
will be funded. The Introductory Section provides a Budget Message, an overview of
the budget, including information about the City. The Budget Summary provides
information on the budget process and budget calendar, financial structure of the
budget, consolidated fund summary, an overview of each fund and the major revenue
and expenditure categories for each fund and the City’s financial policies.

The next sections of this document include the detailed financial information of the
City of Watauga budget. These sections are broken down by fund type. The City uses
the following funds: General Fund, Special Revenue Funds, Proprietary Funds,
Capital Project Funds, and, finally, Debt Service Funds. Each fund section will provide
financial summaries, general information, and management assumptions in the
budget preparation. A few of the major operating funds are more detailed in showing
objectives, goals, staffing, organizational structures, and accomplishments by
division. Each Department has identified goals which are included in the
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accomplishments in their specific division, and relate back to the City’s Goals detailed