Page 147 - Manfield FY21 Budget
P. 147

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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