Page 137 - City of Fort Worth Budget Book

General Fund Financial Management Services

SUMMARY OF SERVICES AND PERFORMANCE MEASURES

FY23 FY24 FY25
Key Measures Actual Estimated Target Desired Level

Accounting
The purpose of the Accounting Division is to safeguard the City's assets by accounting for all capital assets owned by the
City, ensure proper procedures are followed in accordance with each grant agreement and ensure that all City financial
transactions have been accounted for accurately and timely, through accurate monitoring, accounting and reporting and
in accordance with Generally Accepted Accounting Principles (GAAP). Financial Reporting within the Accounting Division
provides timely and accurate financial statements and reports for internal and external users, detailing the financial
position and the financial health of the City.
% of fund reviews for prior month completed 100% 100% 95% 100%
by the end of the current month.

% of journal entries posted/denied within
three business days from the date it was 96% 93% 95% 100%
submitted
Grants closeout within 60 days of liquidation N/A N/A 95% 100%
period ending
Average # of days to close Chartfield
Maintenance tickets after required budget 3.32 3.20 3.00 3.00
approval is received

Number of external audit findings (citywide) 1 0 __ __

Number of external audit findings 0 1 __ __
(Component Unit/Other)

Build & send monthly Financial Report to
FWLab within 3 days from the last payroll N/A 98.55% 100.00% 100.00%
posted transaction

GFOA Award for Annual Comprehensive Yes N/A Yes Yes
Financial Report

# of days to produce the Annual 154 152 130 130
Comprehensive Financial Report

Treasury
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.
Investment portfolios to provide returns in 4.60% 4.85% 4.6% 4.6%
excess of 0.10% of the benchmark

% of invoices paid within 30 days from the 83.8% 83.4% 85.0% 100.0%
invoice date
% of receivables that are current at the end 13.9% 13.5% 25.0% 25.0%
of each month

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