Page 9 - Watauga FY22-23 Budget

THE PURPOSE OF THIS BUDGET DOCUMENT

This is the budget document for the City of Watauga, Texas for the fiscal year beginning
October 1, 2022, and ending September 30, 2023. The Budget for the City of Watauga is
intended to serve four purposes:

This document should serve as a policy document, a financial plan, and an operations
guide to our City, as well as a communication device to our readers. We designed this
document to be a reference for a wide variety of users. As approved by the City Council
for the fiscal year, City Management may use this document as a guide for operations.
The City Council may use this document as a communication medium to staff and citizens
to describe objectives, goals, and mission of the City. City staff may use this document to
inform City Council and citizens of accomplishments and services. Current and
prospective citizens and businesses may use this document to learn about the City and its
plans for the future.

1. The Budget as a Policy Document

As a policy document, the budget indicates what services the City will provide during
the twelve-month period beginning October 1, 2022. The Budget Message
summarizes the challenges facing the City and the strategies incorporated in the
budget to manage and control the financial impacts created by the challenges.

2. The Budget as an Operations Guide

As an operations guide, the budget indicates how services will be delivered to the
community. The Personnel Positions Schedule outlines the number of proposed
authorized full-time and part-time employees. Specific budgetary information related
to each department is provided for each Fund, as appropriate.

3. The Budget as a Financial Plan

As a financial plan, the budget outlines how much City services will cost and how
they will be funded. The Introductory Section provides a Budget Message, an
overview of the budget, including information about the City, financial structure,
major revenue and expenditure categories for each Fund, financial policies, and
Budget Calendar.

The next sections of this document include the detailed financial information of the
City of Watauga budget. These sections are broken down by fund type. The City
uses the following funds: General Fund, Special Revenue Funds, Proprietary Funds,
Capital Project Funds, and, finally, Debt Service Funds. Each fund section will
provide financial summaries, general information, and management assumptions in
the budget preparation. A few of the major operating funds are more detailed in
showing objectives, goals, staffing, organizational structures, and accomplishments
by division. Each Department has identified goals which are included in the
accomplishments in their specific division, and relate back to the City’s Goals
detailed in the Budget Overview section. The Capital Project Funds detail current
and future projects. The Debt Service Fund section also provides individual debt
service reimbursement schedules.
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