Page 165 - Watauga FY22-23 Budget

GENERAL FUND

DEPARTMENT: FINANCE
DIVISION / ACTIVITY: FINANCE / ACCOUNTING /PURCHASING / ADMINISTRATION -
FUND 01-040
LOCATION: HOURS OF OPERATION:
7105 Whitley Road Monday – Friday 8:00 A.M. – 5:00 P.M.
Watauga, Texas 76148
Phone Number: 817-514-5800
MISSION / PROGRAMS / SERVICES:

• Finance and Administration is responsible for providing accurate and timely financial data to
management and council to facilitate the financial decision making process
• This division is accountable for establishing, monitoring and updating the City’s fiscal policies to
ensure they are both responsive in the current environment and fiscally responsible
• Responsible for planning, collecting, recording, summarizing and reporting the results of all
financial transactions of the City in a timely manner and in accordance with generally accepted
accounting principles, ensuring compliance with applicable state and federal statutes, bond
covenants, grant contracts, and management policies
• The purchasing area ensures that all purchases are in accordance with state laws. Responsible
for obtaining the best value consistent with delivery terms. We strive to foster an understanding
and appreciation of sound purchasing policy and procedures throughout all departments of the
City

FY2021-2022 HIGHLIGHTS / ACHIEVEMENTS:

• Received the Distinguished Budget Award
• Received the Certificate of Achievement for Excellence in Financial Reporting
• Received clean audit for FY2021 and no management comments from external auditors
• Continued with the enhancement of electronic fund payments with vendors
• Began implementation of the electronic bidding and contract management software
• Began transition to Incode Fixed Asset tracking
• Began the implementation of Tyler Content Management system

FY2022-2023 GOALS/ OBJECTIVES:

• Continue with website improvements to increase public ease of obtaining information
• Continue with staff cross training
• Monitor the SLFR funding budget

MAJOR BUDGETARY ISSUES AND OPERATIONAL TRENDS:

• Inflation is a continuing issue city-wide
• Retaining and recruiting staff is a major issue city-wide

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