FUNCTIONAL DUTIES: The Finance Department manages the financial affairs of the City, including, but not limited to budget development and management, cash management, investments, debt, payroll, procurement, grants reporting, revenue, business tax license, disbursements, fixed assets, and accounting and financial reporting for all City operations. The Department is responsible for developing and maintaining a balanced budget, monitoring and analyzing ongoing fiscal activity, producing documents and reports to assist management in financial planning and preparing the
City’s Comprehensive Annual Financial Report (CAFR).
MISSION STATEMENT: "The mission of the Department of Finance is to use an innovative and technologically oriented approach to responsibly manage the financial affairs of the City by providing efficient internal services, careful investment and debt management, sound financial leadership, and professional and courteous support services to other City departments all while maintaining financial controls and adhering to Generally Accepted Accounting Principles (GAAP)."
- Produce the City's Comprehensive Annual Financial Report.
- Produce a timely and accurate quality annual budget document.
- Conduct an annual physical inventory of all City assets.
- Produce and distribute periodic financial and investment reports.
- Reconcile and track all City funds.
- Perform internal monitoring procedures:
- Accounts Payable & Purchase Orders
- Cash Receipts
- Credit Card Audits
- Payroll Audits
- Bi-weekly processing of payroll for all City employees.
- Issue annual business tax license renewal and late notices.
- Continue improvement of financial record keeping of the City by employing technology solutions to increase efficiency and accuracy.
- Provide staff training throughout the year to expand knowledge and skills of staff.
- Processing and collection of annual Fire Inspection fees.
Departmental Perspective, Trends & Highlights:
The Department has and will continue to strive for excellence in financial reporting and budget preparation. The City has received the GFOA Certificate of Achievement for Excellence in Financial Reporting for the FY 14/15 CAFR and has received the GFOA Distinguished Budget Presentation Award for FY 16/17. The Department will strive to continue to meet or exceed the high professional standards required in order to receive these awards.
The City has continued to maintain compliance with all financial requirements of the revenue bond issues related to the acquisition, and improvements to, the water/sewer utility and to the improving of existing roads within the City.
The Department continues to further utilize the City’s ERP software. The Department continues to further utilize the City’s ERP software. We worked with the Human Resources Department and successfully implement the ERP system’s workflow process for routing and approval of all employee status/pay changes as well as manual journal entries.
The Department has and will continue to play an integral role in cost control and budget monitoring. Likewise the Department will continue to play a central role in financial planning for additional debt or refinancing of existing debt as well as newly approved projects.