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FUNCTIONAL DUTIES:
The Finance Department manages the financial affairs of the City, including budget development and management, cash management, investments, debt, payroll, procurement, revenue, disbursements, fixed assets, and accounting and financial reporting for all City operations. This Department is responsible for developing and maintaining a balanced budget, monitoring and analyzing ongoing fiscal activity, and producing documents and reports to assist management in financial planning and maximizing the allocation of resources.
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."
FY 2011/2012 GOALS & OBJECTIVES:
Key Objectives
- Produce the City's Comprehensive Annual Financial Report.
- Maintain and produce monthly financial and investment reports.
- Reconcile and track over 24 different funds.
- Perform internal monitoring procedures.
- Cash Receipts
- Credit Card Audits
- Payroll Audits
- Process over 16,200 accounts payable invoices, 3,700 purchasing card transactions and 8,300 payroll checks, 13,200 cash receipt transactions and 3,800 local business tax billings.
- Timely and accurate preparation of a quality annual budget document.
- Continue improvement of financial record keeping of the City by employing technology solutions to increase efficiency and accuracy.
- Provide training throughout the year related to budget, fixed assets, and procurement services.
FY 2010/2011 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 09/10 CAFR and has received the GFOA Distinguished Budget Presentation Award for FY 10/11. The Department will 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 of the water/sewer utility and to the improvement of existing roads within the City.
The Department has and will continue to play an integral role in cost control and budget reductions during what has been and continues to be very challenging times.
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