The fiscal year of the city is hereby designated as beginning
with the first (1st) day of October of each year and ending the thirtieth
(30th) day of September next ensuing thereafter.
(2000 Code, art. 1.600)
An audit of the books of account of the city shall be made and
filed annually in accordance with chapter 103, V.T.C.A., Local Government
Code.
(2000 Code, art. 1.700)
The Citizens State Bank, Hubbard, Texas, is hereby designated
as the official depository of the city.
(2000 Code, art. 1.800; Ordinance
adopting Code)
Capital assets shall be defined as land, buildings (and the
improvements thereto that materially increase their value or useful
life), and any article of tangible personal property having an original
purchase price of $5,000.00 or more, including the purchase price
and any other charges incurred to place the asset in its intended
location and condition for use, and having an estimated useful life
of at least two years following the date of acquisition. Capitalization
thresholds should be applied to individual fixed assets rather than
to groups of fixed assets (e.g., desks, tables). Control over noncapitalized
fixed assets should be exercised by establishing and maintaining adequate
control procedures at the department level.
(Ordinance 031604-03 adopted 3/16/04)
The budget officer of the city shall be the city manager.
(2000 Code, sec. 1.501)
The city manager shall, with the aid and counsel of the members
of the city council and city staff, annually prepare a budget to cover
all proposed expenditures of the government of the city for the succeeding
year, in accordance with chapter 102, V.T.C.A., Local Government Code.
(2000 Code, sec. 1.502)
The budget shall show all expenditures proposed and shall be
carefully itemized so as to make as clear a comparison as practicable
between expenditures included in the proposed budget and actual expenditures
for the same or similar purposes for the preceding year. The budget
must also show as definitely as possible each of the various projects
for which appropriations are made in the budget and the budgeted sums
for each of such projects. The budget shall also contain a complete
financial statement of the city showing all outstanding obligations
of the city, the cash on hand to the credit of each and every fund,
and funds received from all sources during the previous year, the
funds available to cover the proposed budget, and the estimated rate
of tax which will be required.
(2000 Code, sec. 1.503)
The city manager shall have the authority to require any officer
or other unit of the city government to furnish such information as
may, in the city manager’s discretion, be necessary to afford
proper preparation of the proposed budget.
(2000 Code, sec. 1.504)
The budget shall be filed with the city secretary not less than
thirty (30) days prior to the time the council makes its tax levy
for the current fiscal year.
(2000 Code, sec. 1.505)
The budget filed with the city secretary shall be available
for the inspection of any taxpayer during all reasonable business
hours.
(2000 Code, sec. 1.506)
A public hearing shall be held and the budget adopted thereafter
shall be filed with the proper officials in accordance with chapter
102, V.T.C.A., Local Government Code.
(2000 Code, sec. 1.507)
