Page 160 - HaltomCityFY25Budget

City Of Haltom City Annual Budget, FY2025 Supplemental Information

1. Strategic Priorities Evaluation
o Every year, the City Council evaluates the strategic priorities established the
previous year. Priorities are added and dropped as appropriate to develop a new
set of strategic priorities for the coming budget year.
2. Departmental Goals and Performance Measures
o From the strategic priorities, each department develops goals that outline
measures to accomplish the strategic priorities. The goals are supported by
performance measures.
o Performance measurements should objectively monitor and project the degree of
success in accomplishing the goals as outlined.

Conformity

• The City has received the GFOA Certificate of Achievement since fiscal year ending 1987.
The budgets prepared for submission have been recognized with the GFOA Distinguished
Budget Award annually since 1989. The City intends to continue to participate successfully
in the award program.

Fund Structure

The accounts of the City of Haltom City are organized on the basis of funds, each of which is
considered to be a separate accounting entity. The operations of each fund are accounted for
with in departments (see appendix II), and separated set of self-balancing accounts, which
comprise its assets, liabilities, retained earnings/fund balance, revenues, and
expenses/expenditures. The various funds are grouped by type in the financial statements.

The operations of each fund are summarized as follows:

1. Governmental Fund Types
o General Fund: The General Fund is the operating fund of the City. All general tax
revenues and other receipts that are not restricted by law or contractual
agreement to some other fund are accounted for in this fund. The General Fund
records general operating expenditures, fixed charges, and capital improvement
costs that are not paid through other funds.
o Debt Service Fund: The Debt Service Fund is used to account for monies
accumulated for the payment of principal, interest, and related costs of general
long-term liabilities paid from taxes levied by the City. This is administered by the
Finance Department and considered a Finance function.
o Special Revenue Funds: The Special Revenue Funds are used to account for
specific revenue sources that are legally restricted to expenditure for specified
purposes. Financing is provided by program charges, contributions, hotel
occupancy tax, sales tax, and cable franchise fees. See Appendix I for a list.
o Capital Projects Funds: The Capital Projects Funds are used to account for the
financing and construction of major capital facilities. Financing is provided