ARLINGTON Financial Cycle
STRATEGIC PLANNING
JANUARY
• 1st QTR BP / budget compiled .
• Five-year Financial Forecast kickoff .
• Citizen survey developed .
FEBRUARY
• CMO reviews 1st QTR BP / budget .
• Citizen satisfaction survey completed .
MARCH
• ACFR , PAFR completed , approved by City Council and submitted to GFOA .
• Official statement updated .
• City Council strategic planning session .
BUDGET DEVELOPMENT
APRIL
• 2nd QTR BP / budget compiled .
• Rating agency review / official statement update .
MAY
• Budget kick off .
• CMO reviews 2nd QTR BP / budget .
• Department business plan / budget modifications / proposals due .
• Preliminary revenue determined for upcoming fiscal year .
JUNE
• CMO reviews BP / budget .
• Modifications and proposals reviewed and prioritized .
• Proposed budget discussion with CMO .
• Potential bond issuance .
JULY
• 3rd QTR BP / budget compiled / reviewed .
• CMO , OMB finalize proposed budget .
• Certified property tax roll received from Tarrant Appraisal District .
AUGUST
• Proposed budget presented to City Council .
• Budget town hall meetings conducted with residents .
• Budget development discussion with City Council .
SEPTEMBER
• Budget development discussion with City Council .
• Budget adopted .
ACFR REPORTING
OCTOBER
• Fiscal year-end processing .
• External auditor and staff begin work on ACFR and single audit .
NOVEMBER
• 4th QTR BP / budget compiled .
• Fiscal year-end processing .
• Budget document finalized .
DECEMBER
• 4th QTR BP / budget reviewed .
• New budget submitted to GFOA .
TERMS
• ACFR : Annual Comprehensive Financial Report
• BP : Business Plan
• CMO : City Manager ’ s Office
• GFOA : Government Finance Officers Association
• OMB : Office of Management and Budget
• OS : Official Statement
• PAFR : Popular Annual Financial Report
• QTR : Quarter
Popular Annual Financial Report FY22 City of Arlington , Texas
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