To: Aaron Rector, City Manager
From: Bryan Rebel, Chief Financial Officer
Subject:
Title
Consider a resolution adopting the 2025 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 2025 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, there has been a clarification to sections 8.1 for accounts sent to collections and 8.9 for late fees on utility bills.
For the Investment Policy, policies have been updated to clarify the investment objective priorities and update job titles.
For the Purchasing Policy, the policies have been updated to clarify required documentation for purchases at various price points, to increase the threshold for competitive bids, and to define the considerations for “best value” purchases.
For the Fund Balance Policy, the proposal allows the Director of Administrative Services to designate responsibility for monitoring and reporting fund balances.
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 2, 2025.
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.