Page 37 - Pantego FY22 Operating Budget
P. 37

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   Objectives for Fiscal Year 2021-2022:
           businesses of the Town of Pantego. Implement Town Council policy
           through professional management and oversight of all Town   1. Complete Auditor's final recommendation of utilizing the
           operations, coordinating the work of department heads and other   Fixed Asset Module in Incode to maintain and track Fixed
           employees to ensure equitable, effective and efficient service delivery.  Assets.
           Major Goals:                                        2. Continue to find and utilize Grant opportunities to help
                                                               support the Town's Financial Position.
           1. To develop and recommend program, policy and procedures
           alternatives to the Town Council for consideration.   3. Start the Budget process much earlier in the year in order
                                                               to work with all departments to develop a Comprehensive
           2. To formulate, present, and administer the Town budget in a manner  Five Year plan and not just budget one year at a time in
           to ensure responsive and cost effective Town services.  order to project long-term needs.
           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   changes.
           Finance personnel as well as personnel of customer departments.
                                                               6. Obtain CGFM certification
           6. To develop and provide financial and budgetary data to
           management or other authorized personnel in the form, frequency and  7. Begin to take an even more active role in Treasury
           timeliness needed for management decisions.         Managment to optimize the Town's returns while adhereing
                                                               to the goals of the Investment Policy of maintaining Safety
           Fiscal Year 2020-2021 Accomplishments:              of Princlpal, Liquidity, Diversification and Yield.
           1. Completed the Annual Audit despite all the challenges presented by
           COVID-19                                            Major Budget Changes:
           2. Adopted the FY 20-21 Budget.                     Transition to a managed print system to save time and
                                                               expenditures related to all print activities.
           3.Maintained CGFO Certification
                                                               Transition to a vehicle lease program to save on vehicle
           4. Actively managed excess cash balances to maximize returns durng  expenditures and maintenance. Utilize the strength of the
           a challenging time of decreasing interest rates.    program to conserve/add to available funds so they can be
                                                               utilized by other projects. Provide safer and more fuel
           5. Successfully obtained various Grants to support the Town's   efficent vehicles for Town Staff while improving the public
           Finances during the COVID-19 pandemic.              image of the Town's assets.






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