Page 79 - CityofBurlesonFY25AdoptedBudget

a. Two individuals designated on Group A of Attachment “A” must
approve wire transfers to designated paying agents.

b. Any revision, addition or deletion to the list of designated paying
agents will require the approval of two individuals designated in Group
B of Attachment “A”. Such approval shall not be necessary when
supplementary information unrelated to the accounts varies. For
example, the paying agent may request that the wire include a
notation that the transaction is to the attention of a certain individual.
So long as the wire is the benefit of an authorized account, such
clarifying information is permissible. Copies of additions, deletions,
and changes will be provided to the Finance Committee at their regular
scheduled meeting.

5. MISCELLANEOUS

a. Wire transfers to any party not involving a security purchase destined
for custodial safekeeping with an approved organization, or to an
authorized investment pool, or to an authorized paying agent, shall
require the approval of two authorized individuals in Group B of
Attachment “A”. Copies of such transactions will be provided to the
Finance Committee at their next regularly scheduled meeting.

VII. ASSET MANAGEMENT

A. INVESTMENTS. The Finance Director shall promptly invest all City funds with the
Bank Depository in accordance with the provisions of the current Bank
Depository Agreement or in any negotiable instrument that the Council has
authorized under the provisions of the Texas Public Funds Investment Act and in
accordance with the City Council approved Investment Policy.

B. CASH MANAGEMENT. The City's cash flow will be managed to maximize the cash
available to invest. Such cash management will entail the centralization of cash
collections, where feasible, including property tax payments, utility bills,
municipal fines, building and related permits and licenses, and other collection
offices as appropriate. Cycle billing will be used where appropriate.

C. FIXED ASSETS AND INVENTORY. These assets will be reasonably safeguarded and
properly accounted for, and prudently insured. A fixed asset of the City shall be
defined as a purchased or otherwise acquired piece of equipment, vehicle,
furniture, fixture, capital improvement, addition to existing capital investments,
land, buildings or accessioned Library materials. The cost or value of any such
acquisition must be $5,000 or more within an expected useful life greater than
one year. All City departments with inventory are required to conduct a physical
inventory under their control on an annual basis.

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