Mineral Wells Area News

Reporting By Gary Norman | Mineral Wells Area News

MINERAL WELLS, Texas — When Aaron Bovos accepted the position of Chief Financial Officer and Assistant City Manager for the City of Mineral Wells in early 2025, he wasn’t simply looking for another finance job. He was looking for a place where he could make a meaningful impact.

During a recent interview reflecting on his approximately 18 months with the City, Bovos recalled attending a leadership seminar where participants were given marbles representing the finite number of weeks in a person’s lifetime. The exercise prompted him to think carefully about how he wanted to spend his career.

“And at the time, I wasn’t here yet at Mineral Wells, but it really prompted me to say, okay, what type of organization do I want to work for? What does that organization look like? Where do I feel like I could make the most impact? Where would my talent benefit the most?” Bovos said.

After serving in financial leadership roles for several large organizations, including the City of Fort Worth, that reflection ultimately led him to Mineral Wells.

Over the past year and a half, Bovos has led a comprehensive overhaul of the City’s financial management practices, implementing fifteen new financial policies designed to improve accountability, transparency, and long-term fiscal planning.

Perhaps the clearest indication of those changes can be found in the City’s long-range financial forecast.

During last year’s budget planning process, the General Fund was projected to face deficits of approximately $4.0 million in Fiscal Year 2029-30 and another $4.6 million in Fiscal Year 2030-31. Updated projections presented during the July 28, 2026, City Council budget workshop now forecast positive fund balances of approximately $475,000 for Fiscal Year 2029-30 and $2.3 million for Fiscal Year 2030-31.

Those improvements stem from a series of reforms that Bovos says are designed not only to strengthen the City’s finances today, but to create sustainable financial management practices for years to come.

The new financial policies include:

• Investment Policy
• Debt and Debt Monitoring Policy
• Donation Policy
• Expense and Expenditure Policy
• Fixed Asset Policy
• Fund Balance and Reserves Policy
• Grant Management Policy
• Procurement Card Program Policy
• Purchasing Policy
• Revenue and Revenue Administration Policy
• Travel Policy
• Budget Administration Policy
• Fiscal Monitoring Policy
• Lease Policy
• Subscription-Based Information Technology Arrangement Policy

When asked which policies have had the greatest operational impact, Bovos highlighted the Purchasing Policy, Procurement Card Policy, Travel Policy, and Fiscal Monitoring Policy.

He said the updated Purchasing Policy clarified procurement procedures that had previously created confusion, while the Procurement Card Policy streamlined small-dollar purchases without sacrificing financial oversight. Likewise, the revised Travel Policy simplified reimbursement procedures, reducing administrative burdens while maintaining accountability.

From a financial perspective, Bovos identified the Debt Policy, Fund Balance Policy, and Fiscal Monitoring Policy as having the greatest impact.

The Debt and Fund Balance policies establish clear guidelines governing debt issuance and reserve levels, while the Fiscal Monitoring Policy introduced comprehensive monthly financial reporting that allows department heads to monitor expenditures throughout the fiscal year.

Bovos said presenting financial information in a more understandable format has also improved communication with City leadership.

“I’ve always said that numbers tell a story, right? You just have to figure out what that story is. And then you have to convey that story in a way that people can understand.”

Those improved financial practices have also strengthened the City’s ability to respond to unexpected events.

Following the recent tornado response, the City absorbed approximately $200,000 in emergency response costs without drawing from reserve funds—something Bovos attributes to stronger financial planning and reserve management.

He also identified approximately $1 million in accumulated overpayments made by the City in prior years to the employee health insurance fund. Because the fund was already fully funded, those dollars were redirected toward needed infrastructure improvements.

Grant funding has become another area of emphasis.

Through a recently approved $39,000 agreement with grant consulting firm A-Plus Grants, Bovos anticipates the City will pursue approximately $4 million in grant funding opportunities over the coming year to help support future projects and initiatives.

The City’s financial improvements have also earned recognition within the municipal finance profession.

Its Investment Policy recently received recognition from the Government Treasurers’ Organization of Texas for innovative investment practices. In addition, the City has submitted its Comprehensive Annual Financial Report to the Government Finance Officers Association for consideration of the Certificate of Achievement for Excellence in Financial Reporting and plans to apply for the organization’s Distinguished Budget Presentation Award.

Looking ahead, Bovos said one of his highest priorities is implementing a zero-based budgeting approach that requires departments to justify every expenditure rather than relying on historical spending patterns.

“It’s, you know, well, what did you spend last year? Why did you spend it? Do you need that again this year? What will occur? Why would you need it again this year?” he explained.

The process also brings department heads into budget discussions earlier, aligning departmental requests with the City’s strategic priorities while increasing accountability throughout the organization.

Although the City has made significant progress over the past eighteen months, Bovos believes continuous improvement remains essential.

“I think there’s a way to be methodical and systematic about process improvement that allows you to continue to evolve and to continue to do better,” he said.