Page 119 - Keller Budget FY21

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), 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 32nd consecutive year
(FY1989 – FY2021).
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 25th consecutive year (FY1996 – FY2021).
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 2020-21
FY 2018-19 FY 2019-20 FY 2019-20 Adopted
Actual Budget YE Proj.
SERVICES PROVIDED Budget
Accounting Activities:
Accounts payable checks processed 3,970 4,500 5,000 4,500
Invoice Payments Processed 6,511 8,000 7,500 7,500
Journal entries processed 4,794 4,500 5,500 5,000
Payroll checks processed 10,928 11,500 13,000 12,000
Employee W-2's issued 629 590 590 600
Purchasing Activities:
Total Purchasing Card Transactions 2,091 8,300 9,000 8,400
Total Purchase Orders Processed 278 260 300 300
Total Bids 29 24 28 27
Budgeting Activities:
Number of budget amendments 1 1 1 2
Number of budget transfers 41 30 25 35
Investing/Banking Activities:
Number of Quarterly Investment Reports 4 4 4 4
Number of bank reconciliations 180 180 180 180

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