Page 158 - CityofHaltomFY24Budget

City Of Haltom City Annual Budget, Fy2024 Supplemental Information
Use of Surplus. It is the intent of the City to use surpluses to accomplish three goals: meeting
reserve requirements, avoidance of tax or rate increases in ensuing years, and avoidance of future
debt.
Capital Planning Criteria
Multi-year Planning. The City will develop a multi-year plan for capital improvements and update
the plan annually. The City will enact an annual capital budget based on the multi-year Capital
Improvement Plan.
Capital Improvement Budget. The City will coordinate development of the capital improvement
budget with development of the operating budget. Future operating costs associated with new
capital improvements will be projected and included in operating budget forecasts. The estimated
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submitted to the City Council for approval.
Alternative Capital Financing. The City shall explore funding alternatives in addition to long-term
debt including leasing, grants and other aid, developer contributions, capital recovery fees, and
current funds.
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consistent with the Capital Improvement Plan and City priorities. As well as those operating and
maintenance costs which have been included in the operating budget.
Debt Management
Limits. The City will strive to limit general obligation annual debt requirements to 25% of general
government expenditures. Furthermore, the debt service portion of the tax rate will not exceed
$0.25 per $100 to service the bonds as approved by the voters in 2010.
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useful life of four years.
Required Coverage. Revenue bond coverage (Water & Sewer) shall be maintained at a minimum
of revenues, less operating expenses, exceeding the annual debt service cost by 25% (1.25 times
coverage). This exceeds our covenanted standard of 1 times coverage,
Continuing Disclosure. Full disclosure of operations and open lines of communication shall be
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City Of Haltom City Annual Budget, Fy2024 Supplemental Information
necessary materials and presentation to the rating agencies. Inter-period reporting of material
events to rating agencies and other oversight agencies is required as events occur.
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advisor and bond counsel and subject to continuous monitoring and reporting.
Cash and Investment Management Concepts
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Investment Act the written Investment Policy is submitted annually to the City Council for
review and formal approval.
Performance Measurement
Every year, the City Council evaluates the strategic priorities established the previous year.
Pri-orities are added and dropped as appropriate to develop a new set of strategic priorities for
the coming budget year.
From the strategic priorities, each department develops goals that outline measures to accom-
plish the strategic priorities. The goals are supported by performance measures.
Performance measurements should objectively monitor and project the degree of success in
accomplishing the goals as outlined.
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