Page 109 - HaltomCityFY26Budget

City Of Haltom City Adopted Budget, FY2026 Supplemental Information

3. Continuing Disclosure
o Full disclosure of operations and open lines of communication shall be
made to rating agencies. The City staff, with the assistance of bond advisors,
shall prepare the necessary materials and presentation to the rating
agencies. Inter-period reporting of material events to rating agencies and
other oversight agencies is required as events occur.
4. Variable Rate / Floating Rate Debt
o Debt instruments structured with variable rate or floating rate features
(including derivatives) are to be utilized only after careful review by the City’s
financial advisor and bond counsel and subject to continuous monitoring
and reporting.

Performance Measurement

1. Strategic Priorities Evaluation
o Every year, the City Council evaluates the strategic priorities established the
previous year. Priorities are added and dropped as appropriate to develop a
new set of strategic priorities for the coming budget year.
2. Departmental Goals and Performance Measures
o From the strategic priorities, each department develops goals that outline
measures to accomplish the strategic priorities. The goals are supported by
performance measures.
o Performance measurements should objectively monitor and project the
degree of success in accomplishing the goals as outlined.

Conformity

• The City has received the GFOA Certificate of Achievement since fiscal year ending
1987. The budgets prepared for submission have been recognized with the GFOA
Distinguished Budget Award annually since 1989. The City intends to continue to
participate successfully in the award program.

Fund Structure

The accounts of the City of Haltom City are organized on the basis of funds, each of which
is considered to be a separate accounting entity. The operations of each fund are
accounted for with in departments (see appendix II), and separated set of self-balancing
accounts, which comprise its assets, liabilities, retained earnings/fund balance, revenues,
and expenses/expenditures. The various funds are grouped by type in the financial
statements.