Page 157 - Benbrook FY2021

DIVISIONAL SUMMARY FY 2020-21 BUDGET

Function Department Division Account
STAFF SERVICES FINANCE FINANCE 01-21-01

ACTIVITY DESCRIPTION:
The Finance Department, under the direction of the Finance Director, is responsible for the financial management of the City.
Financial management involves the administration of bonded debt, preparation of the Comprehensive Annual Financial Report
(CAFR), and monthly monitoring of all City funds. The Finance Director is also responsible for billing and collecting all amounts due to
the City. These funds include: delinquent taxes, street assessments, and various other receivables. The Finance Director also serves as
the Budget Director, Purchasing Agent, and Risk Manager.

ACTIVITY GOALS:
• To prepare the Comprehensive Annual Financial Report by February 1.
• To collect 100 % of all receivables.
• To provide accurate and up-to-date financial information.
• To process cash disbursements and revenue collection reports on a daily basis.

ACTIVITY OBJECTIVES:
• To monitor expenditures of all Activities supervised and remain within + or - 5% of each Activity's budget allocation.
• To prepare the Comprehensive Financial Report and Approved by City Council by March 31.
• To provide accurate and up-to-date financial information by the twelfth working day of each month.
• To insure that all vouchers are processed and mailed by the tenth day of each month.

ACTIVITY MEASUREMENTS: ACTUAL ACTUAL ESTIMATED PROJECTED
2017-18 2018-19 2019-20 2020-21
Percent of Budget Expended - General Fund 94.6% 113.6% 92.2% 100.0%
Percent of Budget Expended - Activities Supervised 98.6% 97.7% 96.7% 100.0%
Date CAFR Presented to City Council 3/16/2018 3/21/2019 3/19/2020 3/18/2021
Number of Monthly Reports Ready by Fifth Working Day 12 12 12 12
Percentage of Vouchers Processed and Mailed by 10th of Month 100% 100% 100% 100%

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