Page 23 - Pantego Adopted Budget FY21

TOWN OF PANTEGO
ANNUAL OPERATING BUDGET & PLAN OF SERVICES
FUND: General Fund- 100
DEPARTMENT: General and Administrative - 101
DIVISION: Finance Department

Description:
The Finance Department is the administrative arm of the Town's financial operation. The department is responsible for maintaining a
governmental accounting system that presents accurately, and with full disclosure, the financial operations of the funds of the Town in
conformity with General Accepted Accounting Principles. Combined with budgetary data and controls, information so presented shall
provide a means by which the general citizenry may ascertain whether public funds are expended efficiently, as well as prioritized and
allocated in a manner which is responsive to prevailing community needs and values.
The Finance Department, in its accounting function, is also responsible for processing payroll, cash disbursements (payments),
keeping track of all purchase orders, accounts receivable, fixed assets, and other financial controls, including general ledger
reconciliations.
The Finance Department is also responsible for some part of the risk management function of the Town, including the benefits
program (health, dental, life), worker's compensation claims, and liability insurance coverage.

Mission Statement:

Provide the best possible public service to the residents and businesses Objectives for Fiscal Year 2020-2021:
of the Town of Pantego. Implement Town Council policy through
professional management and oversight of all Town operations, 1. Complete Auditor's final recommendation of utilizing the
coordinating the work of department heads and other employees to Fixed Asset Module in Incode to maintain and track Fixed
ensure equitable, effective and efficient service delivery. Assets.

Major Goals: 2. Become more active in GFOA/GFOAT
1. To develop and recommend program, policy and procedures 3. Start the Budget process much earlier in the year in order
alternatives to the Town Council for consideration. to work with all departments to develop a Comprehensive
Five Year plan and not just budget one year at a time in
2. To formulate, present, and administer the Town budget in a manner order to project long-term needs, and begin utilizing Fund
to ensure responsive and cost effective Town services. 300 for Capital Asset replacement. (Begin a Pay-go system).

3. To safeguard the Town's assets by principle of maximizing available 4. Continue to assess and review internal processes and
revenue, controlling costs, and managing the Town's investment make recommendations for improvement. Strengthening
principal. Internal Controls and segregation of duties in a small
department.
4. To direct and oversee the Town's financial accountability to ensure
the responsible and allowable use of Town's funds. 5. Re-write and update the town's Finance and Investment
Policies to ensure they are compliant with recent legislative
5.To improve service delivery through education and training of Finance changes.
personnel as well as personnel of customer departments.
6. Begin working on CGFM certification
6. To develop and provide financial and budgetary data to management
or other authorized personnel in the form, frequency and timeliness
needed for management decisions. Major Budget Changes:
Fiscal Year 2019-2020 Accomplishments:
1. Completed the Annual Audit and accomplishing two of the Auditors
primary recommendations (consistent bank reconciling and Finance
Director training in Governmental Accounting. - see below)
2. Adopted the FY 19-20 Budget.
3. Obtained CGFO Certification
4. Actively managed excess cash balances to maximize returns

5. Successfully completed annual financial audit