Page 117 - Keller FY20 Approved Budget

FINANCE & ACCOUNTING DEPARTMENT
ADMINISTRATION DIVISION (100-130-01)

DEPARTMENT DESCRIPTION:
The Finance and Accounting Department maintains oversight responsibility for management of the City's assets. The Director of
Finance is responsible for oversight of purchasing, accounting, payroll, accounts receivable, accounts payable, cash and
investment management, capital financing, and customer service (utility billing) activities. The department also provides
accounting services for the Keller Development Corporation (KDC), the Keller Tax Increment Reinvestment Zone (TIRZ), and the
Keller Crime Control Prevention District (KCCPD).

DEPARTMENT/DIVISION GOALS:
1. Safeguard the City's assets by developing and/or complying with financial, investment and other related policies and
procedures, and proper and timely recording of accounting transactions.
2. Ensure the City's financial accountability and responsible use of resources.
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. Provide for the efficient and timely procurement of supplies, materials, equipment, and services for all City operations by working
closely with vendors and other governmental entities to ensure that both the proper quantity and quality of materials and services
are available.
5. Continue to strengthen internal control procedures by maintaining and updating formal financial management policies.

DEPARTMENT/DIVISION OBJECTIVES:
1. Complete reporting requirements to continue receiving the "Certificate of Achievement for Excellence in Financial Reporting"
from the Government Finance Officers Association for the Comprehensive Annual Financial Report for the 31st consecutive year
(FY1989 – FY2020).
2. Complete reporting requirements to continue to receive the "Distinguished Budget Presentation Award" from the Government
Finance Officers Association for the annual budget document for the 24th consecutive year (FY1996 – FY2020).
3. Maintain or strengthen the financial status of the City with outside sources, e.g. rating agencies, investors, and other
governmental agencies by providing accurate and timely financial information.
4. Continue applying for Transparency Stars from the State Comptroller’s office.

SERVICE LEVEL ANALYSIS:
FY 2019-20
FY 2017-18 FY 2018-19 FY 2018-19 Adopted
Actual Budget YE Proj.
SERVICES PROVIDED Budget
Accounting Activities:
Accounts payable checks processed 4,120 4,700 4,700 4,500
Invoice Payments Processed 7,655 8,100 8,100 8,000
Journal entries processed 4,495 4,500 4,500 4,500
Payroll checks processed 11,500 11,500 11,283 11,500
Employee W-2's issued 580 600 624 590
Purchasing Activities:
Total Purchasing Card Transactions 7,849 8,500 8,500 8,300
Total Purchase Orders Processed 289 234 251 260
Total Bids 22 24 26 24
Budgeting Activities:

Number of budget amendments 1 4 1 1
Number of budget transfers 35 22 25 30
Investing/Banking Activities:
Number of Quarterly Investment Reports 4 4 4 4
Number of bank reconciliations 12 12 12 180

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