Page 51 - KennedaleFY24AdoptedBudget

DEPARTMENT OUTLINE: FINANCE

The City's Finance Department has three main objectives: provide timely and materially
correct financial reports, safeguard the financial assets of the City, and ensure those who
conduct business with the City are paid in a timely manner.

Maintaining a full compliment of staff throughout the year, along with the proposed raise from
the City Manager, created an increase in anticipated personnel costs. Having a full staff will
reduce Special Services expenditures, which cover the cost of consultants and other contract
services. The increase in Software is primarily driven by moving the STW license from Office
Equipment to this account.

SHORT-TERM GOALS

 Align document retention with the Texas State Records Retention Schedule
 Scan all documents after month close – eliminate the need for physical document
storage
 Review and update all financial policies
 Automate monthly reporting

LONG-TERM GOALS

 Review and approvals for payments and journal entries to take place electronically
 Increase investment returns

CITYOFKENNEDALE.COM/BUDGET 48