Page 149 - City of Mansfield FY22 Operarting 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.

Services Provided
• Monthly and annual financial reports to City Council and Management.
• Payroll processing and W-2s for approximately 500 employees.
• Accounts payable and accounts receivable functions to include vendor invoice payments.
• Capital Improvement Project account management.
• Administration of the purchase card program.
• Management of the Debt Service funds.

Accomplishments in FY 2020-2021
• Received the GFOA Certificate of Achievement for Excellence in Financial Reporting for the
34th consecutive year.
• Successfully completed a single audit of the City's federal grant awards.
• Implemented a new purchasing card program.

FY 2021-2022 Goals and Objectives

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

2. Receive the award from the Government Finance Officers Association for outstanding financial
reporting in the Annual Comprehensive Financial Report.
• 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 Comprehensive Financial Report.

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

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