Page 159 - CityofHaltomFY24Budget

City Of Haltom City Annual Budget, Fy2024 Supplemental Information 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 necessary materials and presentation to the rating agencies. Inter-period reporting of material
reserve requirements, avoidance of tax or rate increases in ensuing years, and avoidance of future events to rating agencies and other oversight agencies is required as events occur.
debt.

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advisor and bond counsel and subject to continuous monitoring and reporting.
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.
Cash and Investment Management Concepts
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Capital Improvement Budget. The City will coordinate development of the capital improvement Investment Act the written Investment Policy is submitted annually to the City Council for
budget with development of the operating budget. Future operating costs associated with new review and formal approval.
capital improvements will be projected and included in operating budget forecasts. The estimated
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submitted to the City Council for approval. Performance Measurement

Every year, the City Council evaluates the strategic priorities established the previous year.
Alternative Capital Financing. The City shall explore funding alternatives in addition to long-term Pri-orities are added and dropped as appropriate to develop a new set of strategic priorities for
debt including leasing, grants and other aid, developer contributions, capital recovery fees, and the coming budget year.
current funds. From the strategic priorities, each department develops goals that outline measures to accom-

,QWHUJRYHUQPHQWDO DVVLVWDQFH ZLOO EH XVHG WR ¿QDQFH RQO\ WKRVH FDSLWDO LPSURYHPHQWV WKDW DUH plish the strategic priorities. The goals are supported by performance measures.
consistent with the Capital Improvement Plan and City priorities. As well as those operating and Performance measurements should objectively monitor and project the degree of success in
maintenance costs which have been included in the operating budget. accomplishing the goals as outlined.

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Debt Management
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Limits. The City will strive to limit general obligation annual debt requirements to 25% of general *)2$ HVWDEOLVKHG WKH 'LVWLQJXLVKHG 3UHVHQWDWLRQ $ZDUGV 3URJUDP LQ WR HQFRXUDJH DQG
government expenditures. Furthermore, the debt service portion of the tax rate will not exceed DVVLVW VWDWH DQG ORFDO JRYHUQPHQWV WR SUHSDUH EXGJHW GRFXPHQWDWLRQV RI WKH YHU\ KLJKHVW TXDOLW\
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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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