Page 247 - CityofArlingtonFY26AdoptedBudget

Appendices

FINANCIAL POLICIES (CONTINUED)

3. Professional and consulting contracts anticipated to be greater than $50,000 shall be governed by the Purchasing Manual,
through the Finance Department and must have City Council approval before executed.

In Compliance: Yes Comments: Select professional services and all consulting contracts are included in the policy
and currently facilitated by procurement staff.

4. The City Manager or designee has the authority to approve a Request for Proposal process for estimated expenditures
below $1,000,000 for the length of the initial term of the contract.

In Compliance: Yes Comments: The Office of Procurement still requires RFPs and construction related RFPs
anticipated over $1,000,000 have a separate resolution and be presented before council for
approval.

Investments
1. The governing authority for the City of Arlington’s Investment Policy shall be Chapter 2256 of the Texas Government Code,
cited as the Public Funds Investment Act and Chapter 2257 of the Texas Government Code, cited as the Collateral for
Public Funds.

In Compliance: Yes Comments: Investments comply with Ch. 2256 for FY 2024 and FY 2025 to date.

2. Investments shall be made in conformance with the City's Investment Policy, with the primary objectives of:
• Safety – preservation of capital in the investment portfolio;
• Liquidity – portfolio remain sufficiently liquid to meet operating requirements;
• Yield – goal of rate of return of exceeding TexPool fund

In Compliance: Yes Comments: All investments were secure, incurring no realized losses while meeting all City
cashflow needs for FY 2024 and FY 2025 to date.

3. The Investment Policy shall be approved by City Council each fiscal year.

In Compliance: Yes Comments: The Investment Policy was approved Sept. 17, 2024, for FY 2025.

Grants

1. The City shall seek a fair share of available State and Federal financial support unless conditions attached to that assistance
are contrary to the City’s best interests. Prior to applying for and accepting intergovernmental aid, the City will examine the
matching requirements so that the source and availability of these funds may be determined before grant application is
made and that the application complies with City Administrative Policy #4.

In Compliance: Yes Comments: Grant matching requirements are considered as part of the budget process.
Additional grant match requests were included in the FY 2026 budget.

2. All grants and other federal and state funds shall be managed to comply with the laws, regulations, and guidance of the
grantor, and all gifts and donations shall be managed and expended according to the wishes and instructions of the donor.

In Compliance: Yes Comments: The FY 2024 Single audit was complete by required due date of June 30, 2025.

FY 2026 Proposed Budget and Business Plan 241 City of Arlington, Texas