2016 City News Releases

Posted on: June 23, 2016

Financial Management Policy Statements Updated

Sugar Land, TX - Sugar Land City Council recently updated the City’s Financial Management Policy Statements (FMPS), principles that guide the management of City finances.

Every two years, the policy statements are reviewed to ensure they address topics that influence the City’s finances, such as accounting, budgeting, capital expenditures, debt issuance and cash management. This has resulted in a number of achievements, including the following:

  • The City holds the highest possible bond rating of AAA. Bond ratings reflect the Sugar Land’s creditworthiness and are based on economic base, financial indicators, outstanding debt and management policies and practices.
  • Sugar Land maintains one of the state’s lowest tax rates while providing the high level of services expected from residents.
  • Sugar Land’s strong economy is achieved through aggressive, focused efforts that support residential services and keep taxes low. Since 1999, Sugar Land has worked with over 40 corporations and developers to expand, construct improvements or relocate to Sugar Land, bringing with them thousands of jobs and over $1 billion in capital investment.

An area of focus this year was the addition of a section addressing vendor selection on procurements where the lowest qualified bid is not the sole determining factor of the contract award. The policy ensures contracts are awarded to the highest ranked vendor based on merit as determined by an evaluation team of three or more staff members.

The policy defines factors that should be considered, including qualifications, past experience, quality of team, equipment, scheduling and proven performance.

All purchases exceeding $50,000 require City Council approval; after review, city staff recommends approval of the contracts prior to Council consideration.

Since first adopted in 2002, the policy statements have been revised and adopted eight times and have grown and adapted to support the City’s changing financial management needs.

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Other News in 2016 City News Releases

Holiday Waste Collection, Tree Recycling

Posted on: December 13, 2016

Deadline Nears for Citizen Academies

Posted on: December 12, 2016

Police Searching for Female Bank Robber

Posted on: December 5, 2016

Police Searching for Hit-and-Run Driver

Posted on: October 13, 2016

City Manager Submits Proposed Budget

Posted on: July 21, 2016

Credit Card Thiefs Caught on Video

Posted on: June 15, 2016

Sugar Land Named Tree City USA

Posted on: May 6, 2016

Early Voting Begins April 25

Posted on: April 15, 2016

Sugar Land Receives Clean Audit

Posted on: February 22, 2016

Crime Rate in Sugar Land Hits Historic Low

Posted on: February 18, 2016

EGGStravaganza set for March 19

Posted on: February 17, 2016

Ethics Task Force Applications Accepted

Posted on: February 5, 2016

Sugar Land Receives A+ From Citizens

Posted on: January 22, 2016

Cultural Kite Festival Set for Feb. 27

Posted on: January 21, 2016