Adopted by Ordinance No. 2025-__, effective ________ 2025
← Back to Code of Ordinances Index
The City of Mingus shall maintain sound financial practices in accordance with generally accepted accounting principles (GAAP) and the Texas Local Government Code. All officers and employees responsible for public funds shall act with integrity and fiscal responsibility.
The City fiscal year shall begin on January 1 and end on December 31 of the following year.
All City funds shall be deposited in an official depository bank designated by resolution of the City Council and shall be collateralized or insured as required by law.
The City shall maintain accounting records that accurately reflect revenues, expenditures, assets, and liabilities. Records shall be retained in accordance with the Local Government Records Act.
The City Administrator shall prepare an annual budget in accordance with Chapter 102 of the Texas Local Government Code and present it to the City Council for review no later than August 15 of each year.
The City Council shall hold a public hearing on the proposed budget and adopt it by ordinance prior to the beginning of the fiscal year. The adopted budget shall remain on file with the City Secretary and posted on the City’s official website.
The Council may amend the budget during the fiscal year to provide for unforeseen expenditures or changes in revenue, provided the amendment is adopted by ordinance and entered into the official record.
The City Administrator is authorized to approve routine purchases and expenditures up to a limit set by Council resolution. Purchases exceeding that limit require Council approval.
All purchases or contracts exceeding the monetary threshold established by Chapter 252 of the Texas Local Government Code shall be awarded through competitive bidding, proposals, or interlocal agreements as permitted by law.
The City may grant a preference to local vendors in accordance with Section 271.9051 of the Texas Local Government Code when bids are within three percent (3%) of the lowest price.
No officer or employee shall have a financial interest in any contract with the City or accept gifts, gratuities, or favors from contractors or vendors.
Revenues of the City include ad valorem taxes, franchise fees, service charges, permits, fines, grants, and other lawful sources as approved by the Council.
Fees for municipal services shall be set by the Council by resolution and listed in Appendix A – Fee Schedule. The Council may revise fees periodically to reflect costs of operation.
The City may apply for and accept grants, gifts, or donations of money or property to further public purposes. All such funds shall be used in accordance with grant requirements and donor intent.
All property taxes shall be assessed for the calendar year beginning January 1 and levied based on appraised values certified by the Palo Pinto County Appraisal District.
The City Council shall adopt the annual tax rate in compliance with Chapter 26 of the Texas Tax Code, following required notice and hearing procedures. The rate shall consist of components for maintenance and operations (M&O) and debt service (I&S).
Taxes shall be due January 1 and delinquent after January 31 of the following year, at which time penalties and interest shall accrue as provided by state law.
The City shall honor exemptions provided by the Texas Constitution and Tax Code, including homestead, disabled, and veteran exemptions as authorized by ordinance.
The City may contract with the Palo Pinto County Tax Assessor-Collector or other authorized agent for assessment and collection of taxes.
The City may issue debt obligations as authorized by Chapters 1201–1431 of the Texas Government Code and other applicable laws. Debt may include general obligation bonds, certificates of obligation, or other authorized instruments.
A separate fund shall be maintained for payment of principal and interest on outstanding debt. No other use of this fund shall be permitted.
The City shall maintain a record of all outstanding debt, including purpose, maturity date, and repayment schedule. Annual debt disclosures shall be posted on the City’s website.
The Council shall engage a certified public accountant to perform an independent audit of all City accounts annually in accordance with Chapter 103 of the Texas Local Government Code.
Quarterly financial statements shall be prepared and presented to the Council showing revenues, expenditures, and fund balances.
The City shall make annual budgets, audits, and financial statements available to the public via the City Secretary and the City’s official website.
Any officer or employee who knowingly misuses or fails to properly account for City funds shall be subject to disciplinary action, termination, and prosecution under applicable law.
Violations of this Title are misdemeanors punishable by fines up to $500 per offense, in addition to civil recovery of any misappropriated funds.
If any section or provision of this Title is held invalid, the remaining sections shall continue in full force and effect.