Page 380 - FortWorthFY23AdoptedBudget

To establish and document a policy framework for fiscal decision-making, the City Manager will develop
and maintain a comprehensive set of Financial Management Policy Statements. The aim of these
policies is to ensure that financial resources are properly managed to meet the present and future needs
of the citizens of Fort Worth. Specifically this policy framework mandates the pursuit of the following
fiscal objectives:

I. Revenues: Design, maintain, and administer a revenue system that will assure a reliable,
equitable, diversified, and sufficient revenue stream to support desired City services.

II. Expenditures: Ensure fiscal stability and the effective and efficient delivery of services,
through the identification of necessary services, establishment of appropriate service levels,
and careful administration of the expenditures of available resource.

III. Fund Reserve Policies: Maintain the fund balance and net position of the various operating
funds at levels sufficient to protect the City's creditworthiness as well as its financial
position from emergencies.

IV. Capital Expenditures and Improvements: Review and monitor the state of the City's
capital assets, setting priorities for the addition, replacement, and renovation of such assets
based on needs, funding alternatives, and availability of resources.

V. Debt: Establish guidelines for debt financing that will provide needed capital equipment
and infrastructure improvements while minimizing the impact of debt payments on current
revenues.

VI. Interfund Loans: Establish guidelines for loans between funds.

VII. Cash and Investment Management: Invest the City's cash in such a manner so as to ensure
the safety of principal and interest, to meet the liquidity needs of the City, and to achieve the
highest reasonable market yield

VIII. Grants: Seek, apply for and effectively administer federal, state, and foundation
grants-in-aid, which address the City's current priorities and policy objectives.

IX. Fiscal Monitoring: Prepare and present regular reports that analyze, evaluate, and forecast
the City's financial performance and economic condition.

X. Accounting, Auditing and Financial Reporting: Comply with prevailing federal, state,
and local statutes and regulations, as well as current professional principles and practices.

XI. Retirement System and OPEB Health Care Trust: Ensure that the Employees' Retirement
Fund is adequately funded and operated for the exclusive benefit of the participants and their
beneficiaries.

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