City of Copperas Cove Annual Report 2013 City of Copperas Cove Annual Report 2013 : Page 16

Budget Department The Budget Department develops and monitors the an-nual operating budget, the capital improvement plan, capital outlay plan, and the personnel improvement plan. The department also researches and collaborates with department directors to develop and implement ef-ficiencies in services provided to our citizens. The City of Copperas Cove strives to present to the citi-zens a clear and concise annual budget document that employs the best practices of budgeting. For achieving that goal, the City of Copperas Cove received the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA) for the FY 2012-13 budget. This is the 17th year the City has received this award. The City consistently seeks more efficient and effective ways to service the residents of Copperas Cove. City Council decided to outsource the Wastewater Laborato-ry and Composting services to Bell County Water Con-trol and Improvement District #1 to provide more ef-fective services while utilizing the City’s resources more efficiently. Annual budgetary savings of $223,446 will be realized due to outsourcing these services. In addition to the annual operat-ing budget, the capital improve-ment, capital out-lay, and person-nel improvement plans are reviewed, updated, and ap-proved during the budget process each year. They are also monitored throughout the year, and amended as needed. These tools have proved extremely effective in prioritizing and accomplishing the vast needs of the City and improving and maintaining the City’s credit rating. As an example, three bonds/tax notes the city sold in 2013 fetched very competitive rates of 1.02%, 1.2%, and 2.2%. Page 16 City of Copperas Cove 2013 Annual Report

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