Page 26 - Pantego FY23 Budget

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 6. Completed the Auditor's recommendation of utilizing the
businesses of the Town of Pantego. Implement Town Council policy Fixed Asset Module in Incode to maintain and track Fixed
through professional management and oversight of all Town Assets by transferring all the Town's assets from an Excel
operations, coordinating the work of department heads and other spreadsheet.
employees to ensure equitable, effective and efficient service delivery.
7. Transitioned to a managed print system to save time and
Major Goals: expenditures related to all print activities.

1. To develop and recommend program, policy and procedure 8. Began the implementation of the Enterprise Vehicle
alternatives to the Town Council for consideration. Lease program to save costs on maintenance and improve
the Town's image by having newer and safer vehicles.
2. To formulate, present, and administer the Town budget in a manner
to ensure responsive and cost effective Town services. Objectives for Fiscal Year 2022-2023:
3. To safeguard the Town's assets by principle of maximizing available 1. Continue to find and utilize Grant opportunities to help
revenue, controlling costs, and managing the Town's investment support the Town's Financial Position. Special focus on the
principal. upcoming Water Projects.
4. To direct and oversee the Town's financial accountability to ensure 2. Start the Budget process much earlier in the year in order
the responsible and allowable use of Town's funds. to work with all departments to develop a Comprehensive
Five Year plan and not just budget one year at a time in
5.To improve service delivery through education and training of order to project long-term needs.
Finance personnel as well as personnel of customer departments.
3. Transition the Budget Process from the archaic Excel
6. To develop and provide financial and budgetary data to Spreadsheet to a robust and comprehensive budgeting
management or other authorized personnel in the form, frequency and software application.
timeliness needed for management decisions.
4. Continue to assess and review internal processes and
Fiscal Year 2021-2022 make recommendations for improvement. Strengthening
Accomplishments: Internal Controls and segregation of duties in a small
department.
1. Completed the Annual Audit and was awarded the Certificate of
Achievement for Excellence in Financial Reporting by the Government 5. Re-write and update the town's Finance and Investment
Finance Officers Association for the fourth year in a row. Policies to ensure they are compliant with recent legislative
changes.
2. Adopted the FY 21-22 Budget.
6. Obtain CGFM certification
3.Maintained CGFO Certification
7. Explore options for replacing Tyler Technologies with
4. Actively managed excess cash balances to maximize returns during a more modern and economical product.
a challenging time of decreasing interest rates.
Major Budget Changes:
5. Successfully obtained various Grants to support the Town's
Finances during the COVID-19 pandemic and Winter Storm Uri.

ADOPTED BUDGET FY2022-23 TOWNOFPANTEGO.COM/BUDGET PAGE 24