Page 144 - HurstFY23AnnualBudget

APPROVED BUDGET FISCAL YEAR 2022-2023

➢ Update the City’s financial policies as needed.
➢ Provide great customer service and pursue training opportunities to maintain/update
skill sets.
➢ Seek additional staff certifications.
➢ Evaluate financing needs to maintain quality infrastructure throughout the City.
➢ Monitor economic conditions and report results to City Management and City Council.
➢ Monitor and implement Government Accounting Standards Board (GASB) updates.
➢ Continue to participate in GFOA’s award programs.
➢ Provide up-to-date municipal debt information on the City’s website.
➢ Consider process improvement, cost saving and revenue enhancement projects identified
by staff, including upgrading our financial system to a newer version.

GOALS, OBJECTIVES & PERFORMANCE MEASURES

• Monitor new and emerging government regulations, including unfunded mandates.

• Monitor economic conditions and their impact to the City.
• Maintain a system of internal controls to adequately safeguard the City’s assets.
• Monitor financial activity and prepare accurate and timely financial records and reports.
• Invest idle funds in compliance with the City’s Investment Policy.
• Provide courteous, friendly, professional service to all external and internal customers.
• Prepare multi-year financial plans in accordance with the City’s conservative budgeting
approach, including estimates for property taxes, sales taxes and debt issuance.
• Minimize the impact to the property tax rate when issuing debt.
• Respond to all vendor and customer requests within one week.
• Pay invoices within 30 days of receipt.

PERFORMANCE MEASURES

Input: PY Actual CY Estimate Projected
Employees with primary budget
responsibilities 3 3 3
Employees coordinating treasury,
accounting, AP/AR, and debt
management activity 3 3 3

Finance division expenditures $453,311 $429,491 $486,741
Workload/Output:

Journal entries processed 1,616 1,700 1,700

Finance committee meetings held 12 12 12

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