Page 162 - CityofHaltomFY24Budget
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City Of Haltom City Annual Budget, Fy2024                Supplemental Information                                          City Of Haltom City Annual Budget, Fy2024                Supplemental Information




             PROPRIETARY FUND TYPES:                                                                                                    ACCOUNTING SYSTEM AND BUDGETARY CONTROL

             Enterprise / Business-Type Funds

             This fund type is used to account for the provision of fee-based services to residents of the City.                        +DOWRP &LW\¶V DFFRXQWLQJ DQG ILQDQFLDO UHSRUWLQJ V\VWHP IROORZV WKH SULQFLSOHV HVWDEOLVKHG E\
             These funds include the Water and Sewer Fund and the Drainage Fund.  All activities necessary                              WKH  Governmental  Accounting  Standards  Board   *$6%   DQG  *)2$ V  EHVW  SUDFWLFHV.  An
             to provide such services are accounted for in this fund, including, but not limited to, public works                       annual audit of the City’s system is performed E\  DQ  LQGHSHQGHQW  SXEOLF  DFFRXQWLQJ  ILUP ZLWK
             DGPLQLVWUDWLRQ   HQYLURQPHQW  VHUYLFHV   RSHUDWLRQV   PDLQWHQDQFH   ¿QDQFLQJ  DQG  UHODWHG  GHEW                           WKH VXEVHTXHQW LVVXDQFH RI D $QQXDO &RPSUHKHQVLYH )LQDQFLDO 5HSRUW
             service.  Billing and collection services are shared between the two funds.  Operation oversight
             of the Enterprise Funds is the responsibility of Public Works.  Utility Billing and Collection is a                        The  &LW\ V  JRYHUQPHQWDO  DQG  SURSULHWDU\  IXQGV  are  groupHG  E\  W\SH    (ach  fund  are self-
             function of the Finance Department.                                                                                        balancing  ZLWK  accounts  FRPSULVLQJ RI  assets,  GHIHUUHG  RXWIORZ  RI  UHVRXUFHV   liabilities,
                                                                                                                                        GHIHUUHG  LQIORZV  RI  UHVRXUFHV   retained  earnings/fund balance, revenues and expenses/
                                                                                                                                        expenditures   7KH &LW\¶V DFFRXQWLQJ UHFRUGV IRU WKH :DWHU DQG 6HZHU )XQG and the Drainage
             5HODWLRQVKLS EHWZHHQ WKH FLW\¶V EXGJHWLQJ XQLWV DQG IXQG VWUXFWXUH IRU ¿QDQFLDO UHSRUWLQJ                                  )XQGV  SURSULHWDU\ IXQGV  are maintained on an accrual basis whereby revenues and expenses
                                                                                                                                        are recorded in the accounting period in which they are earned or incurred.  The remainder of
                                                                                                                                        the &LW\¶V  IXQGV  DUH  PDLQWDLQHG  RQ  WKH  PRGLILHG DFFUXDO  EDVLV  ZKHUHE\  UHYHQXH  LV  UHFRUGHG
                                                                                                                                        ZKHQ  measurable and available and expenditures are recorded when the liability is incurred
                                                                                                                                        except for interest on general long-term debt.
                                                                     Funds                                                              2QH RI WKH REMHFWLYHV RI WKH &LW\¶V ILQDQFLDO DFFRXQWLQJ V\VWHP LV WR SURYLGH LQWHUQDO FRQWUROV
                                                               Special     Capital    Business                                          Internal controls are designed to provide reasonable, but not absolute, assurance regarding
                        Departments                General    Revenue     Projects      Type                                            the  safeguarding  of  assets  against  loss  from  unauthorized  use  or  disposition  and  the
                        City Manager's Office        D                                                                                  reliability  of  ILQDQFLDO  UHFRUGV  IRU  SUHSDULQJ  ILQDQFLDO  VWDWHPHQWV  DQG  PDLQWDLQLQJ
                        City Secretary               D                                                                                  DFFRXQWDELOLW\ IRU DVVHWV   The concept of reasonable assurance recognizes that the cost of a
                        City Council                 D                                                                                  control  should  not  exceed  WKH  EHQHILWV  OLNHO\  WR  EH  GHULYHG  DQG  WKH  HYDOXDWLRQ  RI  FRVWV  DQG
                        Finance                      D                                                                                  EHQHILWV UHTXLUHV HVWLPDWHV DQG judgment by management.
                        Human Resources              D
                        Planning & Inspections       D                                                                                  Budgetary Control is accomplished by the adoption of an annual operating budget for various
                        Information Technology       D           D                                                                      funds of the City.  Detail control is accomplished by maintaining appropriations and expended
                        Fleet Services               D                                                                                  balances by line item account within each operating department within each budgeted
                        Building Maintenance         D                                                                                  fund.   Purchase orders or payments that would result in an over expenditure of a line item
                        Police                       D           D                                                                      account are not processed without the approval of the Finance Director or the City Manager.
                        Fire                         D           D
                        Municipal Court              D           D
                        Public Works                 D                                                                                  BASIS OF BUDGETING
                            Streets                  D           D           D
                            Water & Sewer                                    D           D                                              7KH ILQDQFLDO GDWD WKURXJKRXW WKLV GRFXPHQW  IRU DOO IXQGV  LV SUHVHQWHG E\ XVLQJ D FDVK EDVLV
                            Drainage                                         D           D                                              of budgeting.  This means that expenditures and revenues are measured and forecasted
                        Parks & Recreation           D           D           D                                                          on  DQ LQIORZ  RXWIORZ EDVLV IRU WKH    PRQWKV WKDW FRPSULVH WKH EXGJHW \HDU   &DSLWDO RXWOD\
                        Library                      D           D                                                                      DQG debt service are included in the Water and Sewer Fund budget as a budgetary control of
                        Economic Development         D                                                                                  cash expenditures.  Under Generally Accepted Accounting Principles (GAAP), these items
                        Non-Departmental             D           D                       D                                              will  be  reported as additions to capitalized assets and as a reduction of a liability, respectively.
                                                                                                                                        Certain  accounting adjustments based on GAAP will be applied when the City closes its
                                                                                                                                        books  for  the  year  but  these  types  of  adjustments  are  not  part  of  the  budget  presentation.
                                                                                                                                        The application of *$$3 IRUPV WKH EDVLV RI DFFRXQWLQJ IRU WKH FLW\ XVLQJ WKH FDVK  DFFUXDO  DQG
                                                                                                                                        PRGLILHG DFFUXDO PHWKRGV RI UHYHQXH DQG H[SHQGLWXUH PHDVXUHPHQW   :KHUH DSSOLFDEOH  WKH
                                                                                                                                        HIIHFW  RI  WKHVH  HQG of-year adjustments for historical data has been reversed to maintain the
                                                                                                                                        cash basis of budgeting consistently throughout the document.
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