Page 147 - Manfield FY21 Budget

ACCOUNTING DEPARTMENT

MISSION STATEMENT:

The mission of the Accounting Department is to provide an accounting system for safeguarding the City’s
assets through the recording and reporting of financial transactions in a manner consistent with Generally
Accepted Accounting Principles and legally mandated standards.

Department at a Glance

The Accounting Department includes the Chief Accountant, Accountant, and Accounts Payable Clerk.
The Accounting budget increased 5.99% in FY 2020-2021 due to a merit increase and market salary
adjustments.

Key Goals and Objectives

Goal 1
Provide all users with accurate financial data in a timely manner.

Objectives:
• Disburse reports to service departments within 5 business days after month end closing.
• Compile monthly financial reports to the Assistant Finance Director at the close of the month.
• Submit reports to regulatory agencies as requested.

Goal 2
Receive the award from the Government Finance Officers Association for outstanding financial reporting
in the CAFR.

Objectives:
• Prepare the annual report in accordance with Generally Accepted Accounting Principles.
• Implement the latest accounting changes that provide accurate financial reports to both internal
and external customers.
• Prepare all reports in a manner to ensure ease of reading and clear understanding for the reader.
• Ensure all assets are accurately reflected in the annual CAFR.

Goal 3
Ensure adequate and appropriate financial controls are in place.

Objectives:
• Safeguard assets from unauthorized loss or dispositions.
• Ensure payments and purchase card transactions are processed in accordance with financial
policy.
• Ensure all invoices submitted and payments made will receive discounts whenever possible.

Performance Objectives
• Pay all invoices submitted within 30 days.
• Process all purchase card transactions within 30 days.
• Ensure all payments are applied correctly to the appropriate accounts.

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