Page 136 - City of Fort Worth Budget Book

General Fund Financial Management Services

The Accounting Division maintains the general ledger, performs grant accounting and administration, and records
and tracks the city’s capital assets in an accounting system conforming to city charter requirements and municipal
accounting principles. This team also completes bank and balance sheet account reconciliations in addition to
performing fund-level reviews to ensure the accuracy of entries made to general ledger accounts. This team
manages the traditional period-end close processes and oversees interfaces from external systems into the
general ledger. Financial Reporting within the Accounting Division prepares all financial publications including the
city's Annual Comprehensive Financial Report (Annual Report) and coordinates the annual external audit by an
independent audit firm as required by the city’s charter within the Department of Financial Management Services
and throughout the city. This division also assists with general ledger maintenance and completes complex entries
to ensure compliance with modified accrual and accrual level account requirements as promulgated by the
Governmental Accounting Standards Board (GASB).
The Financial Systems Management Division is responsible for the ongoing support of the financial management
software systems. This team oversees the configuration and application of software to the day-to-day business
operations while the city’s Information Technology Department provides the network and infrastructure for which
these systems are delivered to users. This team assists in driving efficiency in business processes by applying
technology solutions across the department.

The Central Purchasing Division purchases goods and services for all city departments, assists with the disposal
of obsolete or surplus materials/equipment, manages the city’s Purchasing Card Program, manages the city’s
vendor relationships, and oversees the city-wide mail operations.

The Treasury Division is responsible for effectively and efficiently managing the City’s cash and investment
portfolios, seeking the highest return possible while complying with Texas Public Funds Investment Act and
applicable law. In addition, the Treasury Division is responsible for administration of the City’s large and complex
debt portfolio, executing vendor and payroll disbursements, and the billing and collection of a variety of city-wide
revenue sources.

FY2025 Discussion AND SIGNIFICANT CHANGES
The Recommended Budget:

• Increases by $472,104 and four authorized positions (APs) in salary and benefits and in General
Operating & Maintenance expenditures due to the transition of the Fleet Strike Force from Property
Management to Financial Management Services in order to expedite procurement of vehicles and
equipment.
• Increases by $649,667 in General Operating & Maintenance for previously approved costs associated
with risk management, administrative cost, and IT solutions allocation costs.

• Increases by $625,571 in salary and benefits for previously approved costs associated with pay for
performance, rising health care costs, and pension contributions.
• Increases by $162,322 in salary and benefits due to the implementation of a department-wide salary
analysis which recommended equity adjustments for 15 APs.

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