Page 393 - FortWorthFY23AdoptedBudget

I. Authority

The Fort Worth City Council is responsible for legislation, policy formulation, and overall
direction setting of the government. This includes the approval of financial policies which
establish and direct the operations of the City of Fort Worth. The City Manager and the
Assistant City Managers are responsible for carrying out the policy directives of the
City Council and managing the day-to-day operations of the executive departments,
including the Department of Finance. This policy shall be administered on behalf of the
City Manager and the Assistant City Managers by the Chief Financial Officer/Director of
Finance (“CFO”).

II. Purpose

This policy defines and provides the guiding principles with respect to Revenue
Receipting, including the handling of cash, reconciling payments received, and reporting
on receipting activity occurring within the City of Fort Worth (“the City”). The objectives
of this policy are to ensure consistent revenue receipting practices and to safeguard
against loss, unauthorized use, or misappropriation of assets. Controls are created to
establish, maintain, and enforce a sound system of operational procedures in accordance
with industry best practices and internal control objectives. These controls address the
decentralized nature of the processes associated with receipting and depositing revenue
while also providing standards and minimally acceptable practices for these activities.

III. Applicability and Scope

All employees of the City, including uniformed employees having revenue receipting,
cash handling, and payment reconciliation responsibilities shall conduct all related
activities in compliance with rules and guidelines set forth by this policy, and by their
respective departmental cash handling and reconciliation procedures.

IV. Glossary

See definitions related to this policy provided in the Glossary for Financial Management
Policies.

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