Page 181 - CityofWataugaAdoptedBudgetFY25

Finance

Mission Statement

To preserve the City’s strong financial condition by
creating a financial strategy, effectively managing the
City’ s resources, and provide analysis and recommendations that ensure optimal economic results. Provide
accurate financial information in a timely manner, produce, and generate information that is meaningful and in
accordance with the generally accepted accounting principles and department procedures.
Department Overview

• Finance is responsible for providing accurate and timely financial data to management and council to
facilitate the financial decision making process.
• This division is accountable for establishing, monitoring, and updating the City’s fiscal policies to ensure
they are both responsive in the current environment and fiscally responsible.
• Responsible for planning, collecting, recording, summarizing, and reporting the results of all financial
transactions of the City in a timely manner and in accordance with generally accepted accounting
principles, ensuring compliance with applicable state and federal statutes, bond covenants, grant
contracts, and management policies.
• The purchasing area ensures that all purchases are in accordance with state laws. Responsible for
obtaining the best value consistent with delivery terms. We strive to foster an understanding and
appreciation of sound purchasing policy and procedures throughout all departments of the City.
Highlights/Achievements for FY2024

• Continued creating a digital budget book to be posted on the website that will be more user friendly for
citizens and council.
• Received the Government Finance Officer’s Distinguished Budget Award and the Certificate of
Achievement for Excellence in Financial Reporting.
• Received the Government Treasurer’s Officer’s of Texas Distinguished Investment Policy Award.
• Continued the implemented of the electronic bidding platform and contract management software.
• Improved website to increase public transparency and ease of obtaining information.

Goals/Objectives for FY2025

• Complete the digital budget book publication to the website to share with the public to aid in citizen
engagement.
• Continue succession plan and cross training staff.
• Implement budget platform for departments to enter budget requests and provide for on-line budget
process for decision making and presenting budget information.
• Participate in the Transparency Stars program through the State Comptroller’s Office.

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