The Treasury and Debt Management function of the Finance Department supports staff, management, and Council initiatives related to capital improvement and sustainability via proposals and management of bond programs and other financing opportunities. Staff also manages and oversees banking contracts, the daily implementation of financial policies, cash handling, purchasing cards, portfolio management, revenue projections, budget implementation, sales tax analysis, audit, and recovery.
In addition, the Town has adopted Financial Management Policies and Investment Policies designed to maintain and improve the financial health and well-being of the Town as well as safeguard the Town's funds in accordance with the Government Code, Chapter 2256 Public Funds Investment Act.
The FY2022-2023 Debt Service Fund is used to account for the accumulation of resources to be used for the payment of current and future incurred debt. It also includes any contractual reserve requirements on that same debt. The Town of Pantego allocates ad-valorem (property) tax payments by ordinance into this fund to pay for the Town's debt in a timely manner.
State Comptroller's Annual Local Debt Report
(Fiscal Year Ended 09/30/2022)