To: Aaron Rector, City Manager
From: Bryan Rebel, Chief Financial Officer
Subject:
Title
Consider a resolution adopting the 2026 City of Keller Financial Management, Investment, Purchasing, and Fund Balance Policies as approved and recommended by the City of Keller Finance Committee.
Action Requested:
Consider a resolution adopting the 2026 City of Keller Financial Management, Investment, Purchasing, and Fund Balance Policies as approved and recommended by the City of Keller Finance Committee.
Background:
As part of the Financial Management policy and Investment policy requirements, Council annually reviews and adopts the Financial Management, Investment, Purchasing, and Fund Balance Policies. The policy reviews helps ensure the policies are up to date, meet regulatory requirements such as the Public Funds Investment Act (PFIA), and reflect best practices.
For the Financial Management Policy, grammatical updates have been made.
For the Investment Policy, no policy updates have been recommended by staff or the city’s investment advisors.
For the Purchasing Policy, the policies have been updated to more closely align sections with Texas Local Government Code, create an exception to the purchase order requirement for certain routine, recurring purchases, and to reword certain sections for clarity.
For the Fund Balance Policy, the proposal designates the City Manager as the authorized official to assign fund balance for a specific purpose.
Financial Impact:
N/A
Citizen Input/Board Review:
The City of Keller Finance Committee reviewed and approved the proposed policy revisions at their meeting on September 15, 2026.
Legal Review:
N/A
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial
Council Action:
Staff recommends approval of the proposed resolution as presented.