Page 47 - 2019 Budget Detail.xlsx

FINANCE DEPARTMENT

OBJECTIVES

The Finance Department is the administrative arm of the City’s financial operation. The
department is responsible for maintaining a governmental accounting system that
presents accurately, and with full disclosure, the financial operations of the funds of the
City in conformity with Generally Accepted Accounting Principles. Combined with
budgetary data and controls, financial information provides a means by which the
general citizenry may ascertain whether public funds are expended efficiently, as well
as prioritized and allocated in a manner which is responsive to prevailing community
needs and values.

The Finance Department, in its accounting function, is responsible for processing
payroll, cash disbursements, purchase orders, accounts receivable, fixed and inventory
assets, cash and investment management, and financial and internal controls. The
Finance Department’s main objectives are focused on providing accurate financial
information, promoting innovation and enhancing transparency while supporting the
strategic goals and objectives of the City Council.

GOALS

The Finance Department must stay abreast of the Federal and State laws and
regulations, implement cost containment strategies where possible, and make
significant strides toward obtaining efficiencies through the use of technology. New
software, while ultimately increasing efficiency and information flow, take significant time
and effort to implement, and complicate the audit and budget process until fully
integrated.

To that end, the Finance department will continue to develop and implement policies
and procedures to increase the effective and efficient utilization of the City’s financial
system, reduce the number of errors in transactions and increase efficiency of
processes as user departments become more knowledgeable in financial, budgetary
and purchasing policies and procedures. For Fiscal Year 2019, the areas of focus
described below will assist in these efforts:

 Conduct a needs assessment with the departments to assess program needs in
the areas of financial training and policy/procedures development.
 Continue to evaluate, develop and/or implement internal controls, policy and
procedure alternatives and recommend changes as needed.
 Develop an in-house training program for supervisory and designated employees
on finance policies, procedures, functions and financial software.

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