Mission Statement
It is the mission of the Finance Department to provide financial services to the City’s departments in order to enhance efficiency and to provide public transparency to promote trust.

Services, Functions and Activities

The Finance Department is responsible for the proper accounting of all City funds and compliance with all applicable regulations and laws. Routine duties include processing payroll, accounts payable, accounts receivable, central collections, general ledger fund accounting, preparation of applicable state and federal reports, periodic financial reports to management, administering debt service, and investment of City funds.  The Department is also responsible for the implementation and control of the approved budget and the preparation, and disclosure of the financial statements, including responses to the financial auditors. It also provides other departments with financial analysis and assists with banking transactions that arise during the year.

Fiscal Year Highlights

The Finance Department will continue the pursuit of the Certificate of Achievement for Excellence in Financial Reporting (“CAFR”) award from the Government Finance Officers Association.  The City has been recognized by the Association for the past four consecutive years.  CAFR requirements include 1) timely filing of the City's Annual Financial Report, which in turn requires timely completion of the independent audit of the City's financial statements; 2) financial statements prepared in accordance with Generally Accepted Accounting Principles (“GAAP”), and 3) successful and complete implementation of all Governmental Accounting Standards promulgated by the Governmental Accounting Standards Board (“GASB”) as of the fiscal year end of the financial statements.

While there are no new GASB standards required to be implemented during this fiscal year, the department will be planning for the implementation of GASB Statement 45, Accounting and Financial Reporting by Employers for Post-employment Benefits Other Than Pensions, which is required for the 2007/2008 fiscal year.

Other scheduled projects for the current fiscal year include an upgrade to the Accounts Receivable module of the HTE computer system, an update of the City's cost allocation plan and the continuation of the implementation of the City's fixed asset system.