Page 94 - CityofBurlesonFY26Budget

H. AUTHORIZATION OF INVESTMENTS AND PAYMENTS. Two signatures are required
to conduct business on behalf of the City of Burleson, Texas. Both the City
Manager and the Director of Finance, or their designee(s), are hereby authorized
to approve investments and payments for the City.

I. AUTHORIZATION OF ELECTRONIC TRANSFERS BY THE CITY. In general, electronic
transfer responsibilities and processes are set by the Director of Finance in
accordance with banking resolutions adopted by the City Council and the
Investment Policy. Processes will require two individuals assigned by the Director
of Finance to separate the duties of initiating a transaction and approval of a
transaction.

VII. ASSET MANAGEMENT

A. INVESTMENTS. The Finance Director shall promptly invest all City funds with the
Bank Depository in accordance with the provisions of the current Bank Depository
Agreement or in any negotiable instrument that the Council has authorized under
the provisions of the Texas Public Funds Investment Act and in accordance with
the City Council approved Investment Policy.

B. CASH MANAGEMENT. The City's cash flow will be managed to maximize the cash
available to invest. Such cash management will entail the centralization of cash
collections, where feasible, including property tax payments, utility bills,
municipal fines, building and related permits and licenses, and other collection
offices as appropriate. Cycle billing will be used where appropriate.

C. FIXED ASSETS AND INVENTORY. These assets will be reasonably safeguarded and
properly accounted for and prudently insured. A fixed asset of the City shall be
defined as a purchased or otherwise acquired piece of equipment, vehicle,
furniture, fixture, capital improvement, addition to existing capital investments,
land, buildings, or accessioned Library materials. The cost or value of any such
acquisition must be $5,000 or more within an expected useful life greater than
one year. All City departments with inventory are required to conduct a physical
inventory under their control on an annual basis.

D. DEPOSITORIES. The City Council, having given due consideration to all of its
options and taking into consideration what is in the best interest of the
municipality, hereby authorizes the consideration of applications of depositories
not doing business within the City of Burleson, Texas so long as that bank
maintains a business location within a five-mile radius of Burleson City Hall. This
authorization encompasses all of the depository uses and requirements of the
City.

VIII. CAPITAL BUDGET AND PROGRAM

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