- FINANCE
Finance
is responsible for managing the
city’s financial resources.
This involves keeping the books and managing
taxpayers money from the time it is collected until
it is spent on programs funded by the City Council.
Finance provides the following
services for city government:
Cash management.
Receive
and deposit moneys into the city’s bank accounts;
record and reconcile all receipts to bank
statements; contract with financial institutions for
banking services.
Ensure the unimpeded inflow of moneys to the
city’s bank accounts; the timely outflow of moneys
to vendors, claimants and employees; and effectively
invest the city’s short-term cash reserves.
Investments.
Invest the city’s temporary cash reserves
in accordance with the city’s investment policy, which provides emphasis on safety and liquidity.
Maintain the official records of ownership
and accounting for investment transactions.
Debt management.
Provide financing recommendations and
services to the City Council, which is responsible
for the authorization and issuance of all debt.
Administer the city’s debt program by
providing financing for capital projects through the
sale of bonds or arranging other long-term
financing; refinancing existing bonds when
sufficient debt service savings can be achieved; and
monitor city compliance with federal tax code and
bond covenants.
Budget preparation and administration. Prepare the annual budget and provide budgetary reports to the
City Council, City Administrator and departments
throughout the year.
Accounting
Services. Prepare
the city’s annual financial reports and manage
the city’s financial accounting system; prepare
the payroll; provide departmental accounting
support; process accounts payable and audit
vouchers; prepare utility billing invoices; monitor grant expenditures and
prepare grant
reimbursement requests, local improvement district
accounting; monitor city revenue sources; fixed
asset accounting; and maintain the city’s
internal control systems.
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