Finance

FY 2021-2022 Annual Budget

Organizational Chart

Description

The Finance Department provides accurate and timely financial reporting to parties with a vested interest in the City’s financial activity and health. The Finance Department recommends and implements sound fiscal policies, safeguards the City’s assets, and assures the effective use of fiscal resources in accordance with the City’s policies and procedures, generally accepted accounting principles, pertinent rules and laws, and best practices. The Finance Department includes the functions of accounting, budgeting, payroll, accounts receivable, accounts payable, cash and investment management, and debt management. The Finance Department also handles the management of property claims with insurance for the City.

Budget Summary

Personnel Summary

2020-2021 Accomplishments

  1. Implemented electronic pay stubs for employees to streamline process
  2. Implemented Incode Content Management for paperless processing throughout the department
  3. Adopted and implemented financial policies
  4. Completed cash collection training and paperless practicies for all departments
  5. Managed the 2020 Cares Act federal funding program
  6. Assisted Planning & Development & Municipal Court with software implementation
  7. Implemented Accounts Receivable system for all departments and took over lien process

Goals

  1. Safeguard the City’s assets by ensuring policy and procedures are established and followed within a good internal control system
  2. Provide accurate and timely financial records to all external and internal customers while maintaining strict financial accountability and transparency in a courteous and friendly manner
  3. Maintain effective cash and investment management in order to realize a competitive rate of return, while protecting the City’s safety of principal, in accordance with the City’s Investment Policy and procedures
  4. Control costs through creating operational efficiencies (processes) in the both the Finance Department and all other Departments
  5. Ensure annual adoption of fiscally responsible budget, monitor department budgets throughout the fiscal year, and develop sound long-term financial and capital planning
  6. Implement technology to allow for more efficient practices throughout the department and City
  7. Manage American Rescue Plan Act (ARPA) federal funding

FY22 Objectives

  1. Earn the Certificate of Achievement for Excellence in Financial Reporting for the 33rd consecutive year and the Distinguished Budget Presentation Award for the 32nd consecutive year
  2. Apply and implement State Comptroller's Transparency Stars Program
  3. Provide basic financial training classes for City employees including policy training
  4. Monitor and maintain net 30 payments to vendors
  5. Maximize average annual yield on investments
  6. Maintain purchases on purchase cards of at least $400,000 annually
  7. Increase ACH, EFT, & Draft payments to vendors by 10%
  8. Assist council & departments with ongoing budget monitoring through meetings and distribution of financial reports
  9. Implement Accounts Receivable Online Payment Platform, Incode 9 Cloud accounting software and OpenGov software platform
  10. Move processes to paperless records and develop electronic records process
  11. Implement grant policy updates to ensure proper guidance with grants

Performance Measures



Performance Measures