Page 68 - CityofEulessFY26AdoptedBudgetOrdinance2432

ACFR will be published and presented to the City Council within 150 days after the end of the fiscal
year. City staffing limitations may preclude such timely reporting. In such case, the Finance Director
will inform the City Manager and the City Manager will inform the City Council of the delay and the
reasons therefore.
F.
Internal Financial Reporting — The Finance Department will prepare internal financial reports sufficient
for management to plan, monitor, and control the City' s financial affairs. Internal financial reporting
objectives are addressed throughout the policies.
III. INTERNAL CONTROLS
A. Obiective — To provide management with reasonable assurance that assets are safeguarded against
loss from unauthorized use or disposition. At all times the City of Euless shall maintain an environment
conducive to good internal controls.
B. Written Procedures —
The Finance Director is responsible for developing Citywide written guidelines
on accounting, cash handling, and other financial matters which will be approved by the City Manager,
The Finance Department will assist Department Managers as needed in tailoring these guidelines into
detailed written procedures to fit each department' s specific requirements.
C. Department Manaaers Responsible —
Each Department Manager is responsible to ensure that good
internal controls are followed throughout his or her department, that all Finance Department guidelines
an accounting and internal controls are implemented, and that all independent auditor internal control
recommendations are addressed.
IV. OPERATING BUDGET
A. Preparation — The City's " operating budget" is the City' s annual financial operating plan. It comprises
governmental and proprietary funds, including the General Obligation Debt Service Fund. The budget
is prepared by the Finance Director or appointee with the cooperation of all City Departments, and is
submitted to the City Manager who makes any necessary changes and transmits the document to the
City Council. The operating budget will be submitted to the GFOA annually for evaluation and
awarding of the Award for Distinguished Budget Presentation.
B. Balanced Budget — The operating budget will be balanced, with current revenues, exclusive of
beginning resources, greater than or equal to current expenditures/ expenses.
C. Adoption Process —
Pursuant to City Charter Article VII Section 5, a budget will be presented by the
City Manager to the City Council, and to the public through the Euless Public Library, by August 1, and
after public hearings the City Council shall adopt, with any changes, at least ten days prior to beginning
of the new fiscal year by a majority vote.
D. Amendment Process —
According to Section 8 of the same article, amendments may be made by
ordinance as necessary.
E. Plannino —
The budget process will be coordinated so as to identify major policy issues for the City
Council consideration several months prior to the budget approval date so that proper decision
analysis can be made. Periodic financial reports will be prepared to enable the Department Managers
to manage their budgets and to enable the Budget Office to monitor and control the budget as
authorized by the City Manager. Summary financial reports will be presented to the City Council
monthly by the third Friday after the end of each month. Such reports will enable the City Council to
understand the big picture budget status. Operating Expenditure Control is addressed in another
section of the Policies.
F. Performance Measures and Productivity Indicators — Where appropriate, performance measures and
productivity indicators will be developed and used as guidelines and reviewed for efficiency and
effectiveness. This information will be included in the annual budgeting process and reported to the
City Council at least annually.

V. CAPITAL BUDGET AND PROGRAM
A. Preparation — The City's capital budget will include all capital project funds and all capital resources.
The budget will be prepared annually in conjunction with the operating budget. The capital budget will
be compiled by the Finance Director with the involvement of all required City departmental project
managers.
Integration of the fiscal impact of capital improvements on the operating budget will be
monitored.

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Ordinance No. 2432, Page 68 of 474