Page 67 - CityofHaltomFY24Budget

City Of Haltom City Annual Budget, Fy2024 General Fund City Of Haltom City Annual Budget, Fy2024 General Fund

FINANCE

Mission Statement

The Finance Department is responsible to optimally manage the City’s resources through budgeting,
purchasing, management analysis and financial reporting. The Director serves as the Chief
Financial Officer of the City and acts as the primary contract with the City’s outside auditors, bond
council, rating agencies and underwriters. Finance Department also provides general supervision
and oversight of all revenue collection for the City.

Accomplishment of FY2023

• Receive an unmodified (clean) opinion on the Annual Comprehensive Financial Report
(ACFR).
• Maintain the high standard and level of financial reporting for obtaining the GFOA “Certificate
of Achievement for Excellence in Financial Reporting”.
• Maintain the high standard and level of the annual budget document for obtaining the GFOA
“Distinguished Budget Presentation Award”.
• Maintain and Monitor Revenues Fee Schedule.
• Continue cost-saving measures by increasing the number of vendor payments from manual
checks to electronic payments.
• Track short-term revenue by implementing HDL portal for payment software.
• Implement the Remaining Suites of New Software and the UB Modules.
• Update financial policies and procedures.
• Implement GASB 96 by expanding Debt Book software and adding bond debt, as well.

Objectives for FY2024

• Receive an unmodified (“clean”) opinion on the Annual Comprehensive Financial Report
(ACFR).
• Maintain the high standard and level of financial reporting for obtaining GFOA “Certificate of
Achievement for Excellence in Financial Reporting”.
• Maintain the high standard and level of the annual budget document for obtaining GFOA
“Distinguished Budget Presentation Award”.
• Review and update internal controls for optimal efficiency and effectiveness.
• Maintain and monitor the Haltom City Revenue Fee Schedule.
• Update financial policies and procedures.
• Utilize Adobe to convert form to be fillable electronically as a step to become a predominately
paperless and more efficient department.
• Continue ERP improvements by implementing the contract, budget, bid, inventory and UB
software modules.
• Implementation of GASB 101 Compensated Absences in the ACFR.