Page 252 - CityofArlingtonFY26AdoptedBudget

Appendices

FINANCIAL POLICIES (CONTINUED)
Disclosure

1. The City is committed to providing continuing disclosure of certain financial and operating data and material event notices
as required by Securities and Exchange Commission (SEC) Rule 15c2-12 and state statutes. The Finance Department
shall be responsible for the preparation of all disclosure documents and releases required under Rule 15c2-12 and state
statutes.

In Compliance: Yes Comments: All continuing disclosure requirements were met. FY 2024 Disclosure was posted on
the Electronic Municipal Market Access (EMMA) on March 26, 2025.

2. Continuing disclosure will be reviewed by the City Manager’s Office (CMO), Financial Advisor, Bond Counsel, and
Disclosure Counsel prior to release. The filing shall be issued no later than 6 months following year-end. The filing shall be
uploaded to EMMA and the City website.

In Compliance: Yes Comments: All continuing disclosure requirements were met. FY 2024 Disclosure was posted on
EMMA on March 26, 2025, after sign-off by CMO, FA, Bond Counsel, and Disclosure Counsel.

3. All material event notices, defined by the SEC, shall be filed according to SEC regulations after the occurring event.

In Compliance: Yes Comments: All material event notices were filed.

Financial Transparency and External Reviews

1. The City is a recipient of the Texas Comptroller of Public Accounts Transparency Stars program that recognizes local
governments for going above and beyond their transparency efforts. The City has been awarded stars for each of the
following areas:
• Traditional Finances
• Contracts and Procurement
• Economic Development
• Public Pensions
• Debt Obligations
• Open Government

The City will annually update the website data to maintain the star designations.

In Compliance: Yes Comments: FY 2024 data update complete. The Open Government star was added by the
Comptroller in 2024 – the City’s application for the new star was awarded in September 2024.

2. As an additional independent confirmation of the quality of the City’s financial reports, the City will annually seek to obtain
the following awards from the Government Finance Officers Association (GFOA):
• Certificate of Achievement in Financial Reporting for Annual Comprehensive Financial Report (ACFR)
• Popular Annual Financial Reporting Award for Popular Annual Financial Report (PAFR)
• Distinguished Budget Presentation Award for Annual Budget

In Compliance: Yes Comments: Received for FY 2023. All applications have been submitted for FY 2024 and are
pending GFOA review.

FY 2026 Proposed Budget and Business Plan 246 City of Arlington, Texas