Page 322 - CityofHasletFY25AnnualBudget

bond counsel, will prepare necessary materials for presentation of rating agencies,
will aid in the production of Offering Statements, and will take responsibility for the
accuracy of all financial information release.

Federal Requirements. The City will maintain procedures to comply with arbitrage
rebate and other Federal requirements.

Debt Structure. The structure should approximate level debt service unless
operational matters dictate otherwise, or if market conditions indicate a potential
savings could result from modifying the level payment stream.

Consideration of market factors, such as the tax-exempt qualification, minimum tax
alternative, and so forth will be given during the structuring of long-term debt
instruments.

Debt Issuance. The City will use a competitive bidding process in the sale of bonds
unless the nature of the issue warrants a negotiated bid. In situations where a
competitive bidding process is not elected, the City will publicly present the reason
why and the City will participate with the financial advisor in the selection of the
underwriter or direct purchaser.

X. Internal Controls

Written Procedures. Wherever possible, written procedures will be established and
maintained by the Finance Director for all function involving cash handling and/or
accounting throughout the City. The procedures will embrace the general concepts
of fiscal responsibly set forth in this policy statement.
Department Director’s Responsibility. Each Department Director is responsible to
ensure that good internal controls are followed through his or her Department.

XI. Staffing and Training

Adequate Staffing. Staffing levels will be maintained at an adequate level for the
fiscal functions of the City to operate effectively. Overtime shall be used only to
address temporary or seasonal demands that require excessive hours.

Training. To the fullest extent possible, written documentation of tasks and
procedures will be developed and maintained as both an aid to personnel training
and an element of effective management.

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City of Haslet Financial Policy

Haslet Adopted Budget FY 2024-2025 320