Purpose:
The Finance Department accounts for and reports the various sources and uses of all City funds as required by Government Auditing Standards and U.S. generally accepted accounting standards. It manages cash and investments to ensure adequate cash flows while maximizing investment income. In addition, it prepares and assists with monitoring the City’s annual budget and plans and prepares for the City’s annual audit. It is responsible for financial policy implementation and compliance to insure and promote sound internal control structure.
Goals:
1. Comply with current and new Government Accounting Standards Board (GASB) statements regarding financial reporting
2. Provide citizens with quality and efficient customer service
3. Provide safeguarding of assets by maintaining an adequate internal control structure and separation of duties
4. Maximize investment income and monitor adequate cash flows
The department is responsible for all cash receipts and disbursements, financial reporting, accounts payable, payroll, accounts receivable, budget management, investment management, debt management, and capital asset control.