Page 506 - FortWorthFY23AdoptedBudget

Fiscal Monitoring Policy

I. Authority

The 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 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 Financial Management Services. This
policy shall be administered on behalf of the City Manager and the Assistant City
Managers by the Chief Financial Officer/ Director of Finance.

II. Purpose

The fiscal monitoring policy is intended to serve as a tool, providing Council,
management, and the public with the insight required to address issues impacting the
City's financial condition. Furthermore, this policy is intended to describe particular
elements or aspects of fiscal monitoring such long-term planning programs within the
City and to memorialize this financial practice into a formal policy. The outcome of
this policy is to prepare and present regular reports that analyze, evaluate, and
forecast the City’s financial performance and economic condition.

III. Applicability and Scope:

This policy shall apply to all funds under the budgetary and fiscal control of the City
Manager and the Mayor and City Council.

IV. Policy:

A. Financial Management Reports

The Department of Financial Management Services shall make
available through the City’s PeopleSoft Enterprise Resource Planning
System a series of on-demand reports that facilitate access to financial
data which allows departments to analyze financial performance.

B. Status Reports on Capital Projects

The Department of Financial Management Services shall make
available through the City’s PeopleSoft Enterprise Resource Planning
System a series of on-demand reports that facilitate access to financial

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