Page 63 - CityofKennedaleFY26AdoptedBudget

DEPARTMENT OUTLINE: FINANCE

We have three main objectives: provide timely and materially correct financial reports,
safeguard the financial assets of the City, and ensure those who conduct business with the City
are paid in a timely manner.

PRIOR YEAR RESULTS & ACCOMPLISHMENTS

• Upgraded bond rating from S&P Global Ratings to ‘AA’ from ‘AA-’
• Receipt of the Distinguished Budget Presentation Award from the Government Financial
Officers Association (GFOA)
• Receipt of the Certificate of Achievement for Excellence in Financial Reporting from the
GFOA
• Closure of the City’s offsite storage facility and destruction of all eligible documents
• Projected to double our ACH payment percentage goal

NEW FOR FY26

• A new contract position to seek out and apply for grant funding with an initial
focus on park and recreation needs. The total budget for the fiscal year is $50,000.

SHORT-TERM (FY26) GOALS

• Sustain 30% or more vendor payments made through ACH
• Continue the momentum regarding GFOA awards focused on our Annual
Comprehensive Financial Report and Annual Budget
• Continue to review each active financial policy on an annual basis

FUTURE INITIATIVES

• Continue to work with our investment partners to minimize the impact of inflation on
our capital project costs
• Increase revenue through grant funded projects

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