Page 33 - CITY OF AZLE, TEXAS

CITY OF AZLE

Financial Policies

INTRODUCTION

The City of Azle, Texas financial policies set forth the basic framework for the fiscal
management of the City. These policies are developed within the parameters
established by applicable provisions of the Texas Government Code and the City of
Azle Charter. The policies are intended to assist the City Council and City staff in
evaluating current activities and proposals for future programs. In addition, the policies
serve as tool to help the City create a balanced budget, which the City defines as a
budget in which current revenues equal current expenditures. The policies are to be
reviewed on an annual basis and modified to accommodate changing circumstances or
conditions.

ANNUAL BUDGET (Charter Requirements*)

1. The fiscal year of the City of Azle shall begin on the first day of October and
shall end the last day of September of each calendar year. Such fiscal year
shall also constitute the budget and accounting year for the City.

2. The City Manager, as soon as is practical and in accordance with state law,
shall submit to the Council a proposed budget, which shall provide a complete
financial plan for the fiscal year, and shall contain the following:

a. A budget message, explanatory of the budget, which message shall
contain an outline of the proposed financial policies of the City for the
fiscal year, shall set forth the reasons for salient changes from the
previous fiscal year in the expenditure and revenue items, and shall
explain any major changes in financial policy.
b. A consolidated statement of anticipated receipts and proposed
expenditure for all funds.
c. An analysis of property valuation.
d. An analysis of tax rate.
e. Tax levies and tax collections by years for at least five years.
f. General Fund resources in detail.
g. Special Funds resources in detail.
h. Summary of proposed expenditures.
i. Detailed estimates of expenditures.
j. A revenue and expense statement for all types of bonds.
k. A description of all bond issues outstanding, showing rate of interest,
date issue, maturity date, amount authorized, amount issued and
amount outstanding.

City of Azle FY 2022-2023 Budget 22