- Home
- City Government
- Financial Transparency
Financial Transparency
Financial Transparency Compliance
Financial transparency is a priority in Fate. The City complies with prevailing federal, state, and local regulations. Its accounting practices and financial reporting conform to Generally Accepted Accounting Principles promulgated by the Government Accounting Standards Board (GASB), the American Institute of Certified Public Accountants (AICPA), the Government Finance Officers Association (GFOA), and the Public Fund Investment Act of Texas (PFIA).- The City Council selects an independent firm of Certified Public Accountants to perform an annual audit of all operations. Additionally, the City continues to participate in the Government Finance Officers Association's Certificate of Achievement for Excellence in Financial Reporting and the Texas Comptroller's Office Leadership Circle program promoting financial transparency.
OpenGov
OpenGov is a cloud-based software that is available through the City’s website. This software is a modern budgeting instrument that seamlessly ties budget dollars to key organizational initiatives. It integrates the City budgeting process with performance and reporting while increasing communications.
The City is committed to providing financial transparency information to the community. The pages that follow are in compliance with the Texas Comptroller of Public Accounts, Transparency Star program.
The landscape of financial transparency has changed. So, the Texas Comptroller of Public Accounts introduced the Transparency Star program. The City is committed to providing the information required by the State program.
On this page, you will find financial information and links to the financial information that provides information on how City tax dollars are budgeted, spent, and invested.
Traditional Finances contains information required by the Texas Comptroller of Public Accounts to qualify for the Comptroller's Transparency Stars program. This page contains information for a broad understanding of the City's finances.
The traditional financial information includes budgetary reports and audited financial reports, as well as information on the City's investments, financial policies, and payroll data. Downloadable check registers and budgets allow interactive access to important financial information. Now, citizens can access key financial information by simply navigating through the budget and reports section.
- Governmental funds represent programs and services that benefit citizens and visitors, such as public safety, parks and recreation, animal services, capital maintenance, and renewal initiatives. The costs of these services are primarily financed with property tax and sales tax revenues.
- Proprietary funds rely on fees and charges for their support. These funds include the provision of water service, sewer service, and trash collection.
The following financial information is taken from our FY 2022 Annual Financial Report, pages 19 and 22.
| FY 2022 | Amount | Per Capita |
| Revenues: | ||
| Property Taxes-Governmental | $6,108,243 | $259 |
| Sales Tax-Governmental | $3,006,789 | $128 |
| Other Revenues-Governmental | $8,116,509 | $245 |
| Operating Revenues-Proprietary | $18,732,355 | $795 |
| Total Revenues | $35,963,896 | $1,527 |
| Expenditures: | ||
| Expenditures-Governmental | $19,672,643 | $835 |
| Operating Expenses-Proprietary | $11,830,383 | $502 |
| Total Revenues | $31,503,026 | $1,338 |
| Fate Population (Based on Utility Accounts - 9/30/2022) | 23,553 |
| Full-Time Employees (Fiscal Year 22) | 78 |
Budget
The budget serves as the financial plan for the City. The annual budget shows estimated revenues and proposed expenditures by fund level and also department and account type. The most recent budget data is provided in a downloadable format.
- FY 2023 Adopted Budget - PDF
- FY 2023 Adopted Budget - Raw Format
- FY 2022 Adopted Budget - PDF
- FY 2021 Adopted Budget - PDF
- FY 2020 Adopted Budget - PDF
- FY 2019 Adopted Budget - PDF
In accordance with Article 6 of the City of Fate Charter and Chapter 102 of the Texas Local Government Code, City Manager presents the budget to the City Council.
Annual Comprehensive Financial Reports
These reports provide a quantitative look at the operating success, financial health, and compliance with governmental guidelines. It includes a balance sheet, statement of revenues and expenses, statement of changes in financial position, statement of cash flows, and comparison of budgeted to actual expenses and revenues.
- FY 2022 Annual Comprehensive Financial Report
- FY 2021 Annual Comprehensive Financial Report
- FY 2020 Annual Comprehensive Financial Report
- FY 2019 Annual Comprehensive Financial Report
- FY 2018 Annual Comprehensive Financial Report
Check Register
These reports provide access to the City's payment records.
- Check Report 10/1/22 - 3/31/23
- Check Report - Payroll - 10/1/22 - 3/31/23
- Check Report - FY 2022
- Check Report - Payroll - FY 2022
- Check Report FY 2021
- Check Report - Payroll - FY 2021
- Check Report FY 2020
- Check Report - Payroll - FY 2020
Investment Report
These reports provide access to the City's Investment Policy and Quarterly Investment Reports
HB 3693 Compliance Report
In compliance with the requirements of HB 3693, the City of Fate is posting the following report regarding consumption and payment information for the utility services used by the city.
Financial Management Policy
The Fate Financial Management Policy is the framework for the fiscal management of the City. These policies were developed within the parameters established by applicable provisions of the Texas Local Government Code and the City of Fate Charter. The policies are intended to assist the City Council and City staff in evaluating current activities and proposals for future programs. The financial management policy is updated annually.
Purchasing Policy
Fate's Purchasing Policy details the policies and procedures of the City's decentralized purchasing authority and outlines all phases of the procurement process, from the preparation of requisitions to the receipt of goods and services and payments.
The Debt Obligations page provides a broad understanding of the City's finances and debt. Various types of long-term debt have been issued by the City for acquisition and construction of major capital projects. This page helps with understanding the nature of that debt.
Bond Ratings
General Obligation Bonds
Certificate of Obligation
Water and Revenue Bonds
Sales Tax Revenue Bonds
These bonds are special bond obligations payable from and secured by sales and use tax revenues allocated to the Development Corporation.
| FY 2022 | Amount | Per Capita |
| General Obligation Bonds | $20,770,000 | $882 |
| Certificate of Obligation Bonds | $9,805,000 | $416 |
| Water & Sewer Revenue Refunding Bonds | $4,795,000 | $204 |
| Sales Tax Bonds | $680,000 | $29 |
| Total Revenues | $36,050,000 | $1,531 |
| Population (based on utility billing accounts) | 23,553 |
Downloadable Debt Information Data
HB 1378 Debt Obligation Reporting
The 84th Legislature passed HB 1378 to increase the transparency of local government debt. HB 1378 requires local governments to provide detailed information and analysis of outstanding obligations.
Debt Information in Previous Year's Adopted Budgets
Link to Texas Comptroller of Public Accounts Debt at a Glance Tool
Link to Bond Review Board Local Government Debt Data
Monthly Financial Reports
If you have additional questions, reach out to the following individuals: